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AMOV - America Movil SAB De CV News Story

$14.65 0.4  3.0%

Last Trade - 07/05/21

Sector
Telecoms
Size
Large Cap
Market Cap £34.78bn
Enterprise Value £59.35bn
Revenue £36.50bn
Position in Universe 258th / 6858

KPN declines to comment on report of takeover interest

Thu 8th April, 2021 8:31am
AMSTERDAM, April 8 (Reuters) - KPN NV on Thursday declined
to comment on a media report that said private investors
including EQT of Sweden were preparing an attempt to buy the top
Dutch telecoms provider.
    A KPN spokeswoman said the company would not comment on
"rumours". EQT declined to comment.
    A report in the Wall Street Journal cited people familiar
with the matter that EQT might seek to pay 3 euros ($3.56) per
share for KPN this spring, working together with New York-based
Stonepeak Infrastructure partners.
    EQT was named in stories by Reuters and Bloomberg in 2020 as
weighing a bid for KPN, whose shares were up 1.6% to 2.92 euros
by 0721 GMT on Thursday.
    KPN has indicated it does not wish to be bought and has a
poison pill mechanism in place to thwart unwanted takeovers,
whereby an independent panel can issue new shares, as it did to
block a takeover attempt in 2013.
    Its networks were identified as infrastructure critical to
national safety under a law that went into force in October 2020
giving the government the right to veto a takeover.
    America Movil owns a 20% stake in KPN.
    The company entered a joint venture with pension fund giant
ABP to build fibre optic networks last month and owns some fibre
optic networks in southern Netherlands and Belgium.  urn:newsml:reuters.com:*:nL1N2LL0HF
    ($1 = 0.8424 euros)

 (Reporting by Toby Sterling and Supantha Mukherjee; editing by
Jason Neely)
 ((toby.sterling@thomsonreuters.com; +31 20 504 5002;))
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