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%.

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Comments (2)
  • edelsteijn
    , contributor
    Comments (164) | Send Message
     
    The +20% bid of €2.40 is seen as far too low. KPN is in a process of selling it's German operations ( E-Plus ) to Telefonica.

     

    Let's see what Telefonica, AT&T and Liberty Global are going to do.

     

    At this moment dirty parties are pushing the stock back to €2.31 giving shareholders the idea that €2,40 is a fair bid.
    9 Aug 2013, 08:06 AM Reply Like
  • embryorambo
    , contributor
    Comments (282) | Send Message
     
    So german assets are worth 8 billion but entire company worth 10.5? What am i missing? Seems slim wants to just acquire more shares or force higher telefonica bid
    9 Aug 2013, 11:58 AM Reply Like
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