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America Movil secures funding for KPN bid

  • Carlos Slim's America Movil (AMX -1.7%) announces it has secured the funds for its €7.2B bid for the 70% of KPN shares (KKPNF.PK -3.9%) it does not own.
  • The move ups the ante in the game over KPN's fate. Slim reportedly views Telefonica's €8.1B bid for KPN's German business, E-Plus, as too low.
  • The rub? KPN's independent foundation has the ability to block Slim's move and has announced its skepticism over Slim's motives.
  • The market has priced in some level of uncertainty about the acquisition(s). KPN shares closed at €2.27 in Amsterdam, below Slim's €2.40/share bid.
Comments (2)
  • Humble Value Miner
    , contributor
    Comments (440) | Send Message
     
    2.4 euro is a steal, it was 10+ euro 2 years ago...
    21 Aug 2013, 04:19 PM Reply Like
  • embryorambo
    , contributor
    Comments (265) | Send Message
     
    as a shareholder slim can keep dreaming of getting my shares for 2.4 euros per
    21 Aug 2013, 04:44 PM Reply Like
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