Royal KPN provides telephone, Internet and television services to personal customers through its fixed network in The Netherlands. For business customers, Co. provides a range of services, from voice, Internet and data services to fully-managed outsourced ICT solutions, in The Netherlands and... More
Wednesday, Feb 194:09 AM
Wednesday, Feb 194:09 AM| Comment!
- The European Commission is unhappy with Telefonica's (TEF) €8.6B ($11.83B) purchase of KPN's (KKPNF) German unit in its current form, Reuters reports.
- The EC's objections could mean that Telefonica will have to make concessions to gain the regulator's approval.
- The EC started an inquiry into the deal in December, saying it was concerned that the acquisition would lead to a fall in competition in Germany and to higher prices.
Thursday, Dec 122013, 12:47 PM
Thursday, Dec 122013, 12:47 PM| Comment!
- Reuters reports the E.C. will "open an in-depth probe" into Telefonica's (TEF -0.9%) $11.9B cash/stock purchase of KPN's (KKPNF) German unit on Friday, and will reject a German proposal to handle regulatory scrutiny of the deal.
- Many expected the E.C. to closely scrutinize the acquisition, which stands to lower the number of German mobile carriers from four to three (Telefonica/KPN, Deutsche Telekom, and Vodafone). Citi has estimated the deal could produce €4B ($5.5B) in annual synergies.
Thursday, Oct 172013, 4:55 AM
Thursday, Oct 172013, 4:55 AM| Comment!
- Although America Movil (AMOV, AMX) has withdrawn its €7.2B ($9.7B) bid for KPN (KKPNY.PK) because of a disagreement over price, the deal may not be dead, the CEO of the Dutch telecom group has indicated.
- "I'm not going to say which price we wanted because there is a possibility that we will be sitting around the table again," Eelco Blok said.
- Despite the prospect of renewed talks, KPN shares are -8.6% in Amsterdam.
Sunday, Sep 12013, 2:35 AM
Sunday, Sep 12013, 2:35 AM| Comment!
- America Movil (AMX, AMOV) has said there is "no way" it will increase its €7.2B bid for KPN (KKPNF.PK) after an independent foundation connected to the Dutch telecom operator moved to block the offer. America Movil has said it is prepared to walk away from the deal.
- Spokesman Arturo Elias said America Movil would "have to carefully analyze" whether to sell its 29.8% stake in KPN if the proposal were to be unsuccessful.
- Elias also denied the foundation's contention that the America Movil's bid is hostile, saying "we've had lots of conversations with (KPN's) management."
Friday, Aug 302013, 3:45 AM
Friday, Aug 302013, 3:45 AM| 1 Comment
- America Movil (AMX, AMOV) is prepared to withdraw its €7.2B takeover offer for KPN (KKPNF.PK) after an independent foundation created to protect the interests of shareholders and other stakeholders moved to block the deal.
- The foundation exercised an option to acquire almost 50% of KPN's voting stock, saying that those stakeholder interests were at risk because America Movil didn't consult with the Dutch telecom carrier before announcing its bid. However, the foundation is open to America Movil addressing its concerns.
- KPN shares are -5.2% in Amsterdam.
Monday, Aug 262013, 2:52 AM
Monday, Aug 262013, 2:52 AM| Comment!
- America Movil (AMX, AMOV), which owns almost 30% in KPN (KKPNF.PK) and is looking to acquire the rest, will support the latter's sale of its German mobile unit E-Plus to Telefonica Deutschland (TEF) after the Spanish-owned telecom operator improved the deal terms.
- KPN will now receive 20.5% in Telefonica Deutschland rather than 17.6%, as originally planned, raising the value of the transaction to €8.55B ($11.4B) from €8.1B.
- KPN shareholders are due to vote on the sale on October 2.
Wednesday, Aug 142013, 3:04 AM
Wednesday, Aug 142013, 3:04 AM| Comment!
- An independent foundation that has the ability to prevent America Movil's (AMX AMOV) €7.2B acquisition of KPN (KKPNF.PK) has expressed concern about the deal.
- "There is considerable uncertainty about América Móvil's intentions," the foundation said, citing a lack of information, "including (about) KPN's intention to sell its German subsidiary E-Plus." The latter is due to be acquired by Telefonica (TEF).
Friday, Aug 92013, 2:05 AM
Friday, Aug 92013, 2:05 AM| 2 Comments
- 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%.
Monday, Jul 292013, 3:21 AM
Monday, Jul 292013, 3:21 AM| 1 Comment
- America Movil (AMX) has terminated a "standstill" agreement to limit its holding in KPN (KKPNF.PK) to below 30%, signaling that Carlos Slim's company could bid for the whole of the Dutch telecom group.
- America Movil was entitled to end the deal following Telefonica's €8.1B bid for E-Plus, KPN's German mobile unit.
- America Movil hasn't said whether it plans to raise its stake in KPN to 30%, which would force the Mexican carrier to make an offer for the shares it doesn't own. (PR)
Tuesday, Jul 232013, 3:02 AMAfter months of speculation, Telefonica Deutschland (TEF) has agreed to acquire KPN's (KKPNF.PK) German E-Plus unit in a deal that values the subsidiary at €8.1B. KPN will receive €5B in cash and a 17.6% stake in Telefonica Deutschland. The transaction will create the biggest cellular operator in Germany with annual revenues of over €8B, and enable the combined entity to better compete with leading operators Deutsche Telekom (DTEGF.PK) and Vodafone (VOD). The merger is expected to create synergies of €5-5.5B. |Tuesday, Jul 232013, 3:02 AM| Comment!