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General

KPN says America Movil bid too low

Tuesday 8 May 2012 | 16:14 CET | News
America Movil's offer of EUR 8 per share for an increased stake in KPN "substantially undervalues" the Dutch company, KPN said. In its first full reaction to the offer, KPN said it will seek further clarification as to America Movil's intentions. The Mexican company announced overnight plans to launch a public bid to increase its 4.8 percent stake in KPN to 28 percent. The offer of EUR 8 per share is around 24 percent higher than KPN's last share price before the announcement but well below a peak of around EUR 12 last year. KPN said its management and supervisory boards will review the

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Categories: General
Companies: America Movil / KPN
Countries: Netherlands
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