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KPN works council calls on govt to block takeover
2013-08-29 13:54:00| Telecompaper Headlines
(Telecompaper) KPN's central works council (COR) has called on the government to block the proposed takeover of the Dutch operator by America Movil in the name of public interest. In a letter to the cabinet and parliament, the COR urged politicians to use their influence and introduce legislation to protect KPN from the takeover. The works council includes representatives of KPN's main unions and must be consulted by management in the event of major changes at the company. The COR said its concerned about the continuity of service and employment at KPN if the new owner takes over. KPN's management is in talks with America Movil about the organisation post-takeover, before it decides whether to recommend the takeover to shareholders. However, the COR noted that current Dutch law is not strong enough to ensure such any agreements are upheld, as once a shareholder gains majority control, it can appoint new management or ignore the agreements with management. If KPN were to remain an independent Dutch company, the council pledged to do all it can to ensure the group's profitability and added value for Dutch society. The council hopes to hold talks with the government and MPs on the question.
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Category:Telecommunications
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