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America Movil secures funds, submits KPN bid for approval
2013-08-21 09:10:00| Telecompaper Headlines
(Telecompaper) America Movil announced it has secured the necessary funds to fully finance its proposed takeover of Dutch operator KPN. America Movil said it has agreed binding credit facilities with global financial institutions to finance the bid. It has also submitted the bid memorandum to the Financial Markets Authority in the Netherlands for approval. Once approved, the bid is expected to open in September. America Movil announced on 09 August its intention to launch a bid of EUR 2.40 per share for the rest of KPN. It already holds 29.77 percent of KPN's shares, and the bid is conditional on acquiring at least 50 percent.
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Category:Telecommunications