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General

KPN foundation to give up controlling stake

Monday 11 November 2013 | 09:32 CET | News
The foundation that took a controlling stake in KPN to block its takeover by America Movil has now agreed to give up its preference shares in the Dutch operator. The Stichting Preferente Aandelen KPN has asked KPN to set up an extraordinary shareholders meeting to discuss withdrawing the 4.26 billion shares the foundation acquired in August. It noted that it will continue to serve its purpose of protecting KPN's interests and could act again in future if needed. An earlier report in the Dutch paper NRC Handelsblad provided a reconstruction of the process leading up to the foundation blocking

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Categories: General
Companies: KPN
Countries: Netherlands
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