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America Movil delays KPN bid until October
2013-09-30 08:38:00| Telecompaper Headlines
(Telecompaper) America Movil said it does not expect to launch its public bid for KPN until October. The offer of EUR 2.40 per share was previously expected in September, but America Movil is still in talks with KPN and the Dutch operator's stakeholders about the terms of the deal. America Movil said it's making "good progress" towards finalizing preparations for the bid and expects to publish the offer memorandum in the course of October. The company said it was still considering its options in relation to the move last month by the Stichting Preferente Aandelen B KPN, a private foundation set up to protect KPN's interests, to take a blocking stake in the company. America Movil said that it still could withdraw its intended offer or not declare the offer unconditional, if the foundation retains its right to acquire or vote the preference shares.
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Category:Telecommunications