Thursday, 08 December 2016

America Movil doesn't ask for much in return for KPN support

By Mary Lennighan, Total Telecom
Thursday 21 February 13

Mexican telco will participate in KPN's €4 billion capital raising plan; pair unveil new 'relationship agreement'.

Major KPN shareholder America Movil on Wednesday backed the Dutch incumbent's plan to raise €4 billion in capital, but attached fewer conditions to its approval than many had predicted. KPN aims to raise €3 billion via a rights issue and €1 billion through hybrid bonds. America Movil said it will participate in the former in order to maintain its stake at around its current level of 29…

Major KPN shareholder America Movil on Wednesday backed the Dutch incumbent's plan to raise €4 billion in capital, but attached fewer conditions to its approval than many had predicted. KPN aims to raise €3 billion via a rights issue and €1 billion through hybrid bonds. America Movil said it will participate in the former in order to maintain its stake at around its current level of 29…

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