Wednesday, August 14, 2013 - 09:00
Concerns About Takeover KPN
The Foundation Preference Shares B of KPN says that they are concerned by the takeover attempt that América Móvil announced on Friday. According to the Foundation, which in theory can raise a protective wall around KPN, there is great uncertainty about the intentions of the Mexican company of Carlos Slim. The foundation was established to protect the interests of KPN and all involved and says it is "to examine its objectives'. There is uncertainty about the strategic development of KPN, in particular the sale of the German subsidiary E-Plus, when América Móvil pushes through with its plans. Call option A spokesman said that exercising a call option is not at issue at this moment. The foundation will, by activating the call option, keep 49.9 percent of the total voting rights in the Company. This would make it impossible for AMX to get more than 50 percent of the voting. "We express our concerns in this way and let them know we are there," the spokesman said. He indicated that there has been no contact between the foundation and América Móvil. The Mexican telecommunications company already owns about 30 percent of KPN and wants to get the remaining shares.