Arab Today, arab today america movil threatens to drop kpn takeover bid
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

America Movil threatens to drop KPN takeover bid

Arab Today, arab today

Arab Today, arab today America Movil threatens to drop KPN takeover bid

The Hague - AFP

America Movil of Mexico warned on Friday that it could abandon a huge bid for Dutch KPN after a last-minute move to block the takeover overseen by the world\'s richest man Carlos Slim. The multi-billion-euro bid seemed on course to give Slim\'s company a firm foothold in the European market, but late on Thursday an independent foundation linked to KPN announced it was trying to block the deal. Foundation Preference Shares B KPN said it had exercised a call option to acquire preference shares which would give it about 50 percent of voting and issued shares and enable it to block the offer. In a strongly-worded statement on Friday, America Movil warned that \"in the event that the Foundation maintains its current position and seeks to prevent the offer from proceeding ... America Movil is prepared to withdraw its offer.\" It added however that it remained committed to the deal saying as a \"long-term investor we believe we can help KPN focus more on its infrastructure investments for the benefit of its customers, its employers and its stakeholders.\" America Movil already has a 29.77-percent stake in the Dutch telecoms company after launching a hostile partial take-over in the summer of 2012. Slim\'s company announced on August 9 its intention to make a public offer for the rest of the shares in KPN, valuing the Dutch company at 10.2 billion euros ($13.6 billion). The foundation said it considered the offer a hostile takeover bid because America Movil had not consulted, and attempted to negotiate a merger protocol, with KPN prior to making its bid. But America Movil denied the allegation, saying its announcement followed consultations with the company. \"As recently as this week we had substantive discussions with KPN to progress the draft Relationship Agreement,\" America Movil said Analysts have said that America Movil\'s bid for KPN could signal the start of consolidation in the fragmented and highly competitive European market.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today america movil threatens to drop kpn takeover bid Arab Today, arab today america movil threatens to drop kpn takeover bid

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today america movil threatens to drop kpn takeover bid Arab Today, arab today america movil threatens to drop kpn takeover bid

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday