Saturday, August 10, 2013

América Móvil Bids for KPN

América Móvil launched a tender offer in cash to acquire all of the issued and outstanding shares of KPN for EUR 2.40 per share.  The offer represents a premium of approximately 35.4% over the average closing price of KPN's ordinary shares on Euronext Amsterdam for the last 30 trading days.

América Móvil said the acquisition would give it the opportunity to expand to other regions outside the Americas in order to achieve geographical diversification and create attractive long-term returns for its shareholders.

América Móvil aims to support to a greater extent KPN's plans in a rapidly changing environment in Europe so that both companies benefit from their respective experiences in the sector.

Currently, América Móvil holds (directly and indirectly) 1,267,677,000 ordinary shares in the capital of KPN, representing approximately 29.77% of all issued and outstanding ordinary shares in the capital of KPN.

América Móvil also noted that it is evaluating KPN's proposed sales of E-Plus.

  • On July 23, 2013, KPN announced that it had “entered into a transaction, subject to shareholder approval, to sell and transfer 100% of its interest in E-Plus to Telefonica Deutschland for EUR 5.0 billion in cash and a 17.6% stake in Telefonica Deutschland post transaction”.
  • América Móvil is headed by Carlos Slim

See also