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Friday, Aug 9
America Movil makes offer to acquire rest of KPN
- America Movil (AMX), which owns 29.8% of KPN (KKPNF.PK), is launching a bid to acquire the rest of the Dutch carrier for €2.40 a share, or a 20% premium to yesterday's closing price.
- The offer values the 70.2% stake that America Movil doesn't own at €7.2B.
- The proposal comes after America Movil last month terminated an agreement to keep its stake under 30% after KPN agreed to sell its German unit E-Plus to Telefonica (TEF) for €8.1B. The Mexican company has yet to decide whether to support the transaction.
- America Movil's proposal is conditional on obtaining a stake of over 50%.