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
Thursday, Oct 174:55 AMKPN CEO: Talks with America Movil could be revived
Thursday, Oct 174:55 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- Although America Movil (AMOV, AMX) has withdrawn its €7.2B ($9.7B) bid for KPN (KKPNY.PK) because of a disagreement over price, the deal may not be dead, the CEO of the Dutch telecom group has indicated.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.
Wednesday, Sep 112:58 PMKPN shares trade up on speculation of improved America Movil bid
Wednesday, Sep 112:58 PM| Comment!
- Shares of KPN (KKPNY.PK +5.6%) trade up on speculation that Carlos Slim may up his €2.70/share offer for the Dutch telco.
- Slim threatened to drop America Movil's bid in response to the KPN foundation's poison pill adoption. However, broader strategic considerations such as the value of Movil's current KPN stake and the necessity of diversification due to regulatory pressures in Mexico may cause Slim to flip flop.
- Earlier, Moody's assigned an A2 rating to $750M in 2016 floating-rate America Movil notes intended to finance part of the KPN tender.
Monday, Sep 911:40 AMKPN CFO resigns
Monday, Sep 911:40 AM| Comment!
- Royal KPN (KKPNY.PK) CFO Eric Hageman resigns. The company stated that Hageman stepped down due to personal circumstances unrelated to America Movil's contested takeover bid for the Dutch telco.
- Kempen analyst Sander van Oort: "The timing of the resignation isn't great ... He plays a crucial role in the [America Movil] negotiations and how to make this a successful transaction ... there might also be more internal focus now."
Sunday, Sep 12:35 AMAmerica Movil won't raise KPN offer
Sunday, Sep 12:35 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 303:45 AMAmerica Movil could drop KPN offer after foundation move
Friday, Aug 303:45 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 262:52 AMAmerica Movil to support KPN sale of German mobile unit
Monday, Aug 262:52 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 213:20 PMAmerica Movil secures funding for KPN bid
Wednesday, Aug 213:20 PM| 2 Comments
- 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.
Wednesday, Aug 143:04 AMPowerful KPN foundation concerned about America Movil bid
Wednesday, Aug 143:04 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 92:05 AMAmerica Movil makes offer to acquire rest of KPN
Friday, Aug 92:05 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 293:21 AMCould America Movil make offer for KPN?
Monday, Jul 293:21 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 233:02 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 233:02 AM| Comment!
Monday, Dec 172012, 6:37 AMVodafone (VOD) shares sink 2.9% in London after the company agreed to pay €1.4B for Dutch 4G spectrum in an auction that raised €3.8B in total from KPN, T-Mobile and Tele2, as well as from Vodafone. Investors are concerned about the amount operators are going to have to shell out in auctions across Europe, although cash-strapped governments are probably delighted. |Monday, Dec 172012, 6:37 AM| 1 Comment
Tuesday, Dec 62011, 3:50 PM