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RPT-KPN says America Movil backs its capital increase
February 20, 2013 / 6:56 AM / 5 years ago

RPT-KPN says America Movil backs its capital increase

BRUSSELS, Feb 20 (Reuters) - Dutch telecoms group KPN said on Wednesday its largest shareholder, America Movil, supported its plan to raise 4 billion euros ($5.34 billion) in equity capital to avoid a credit rating downgrade.

KPN said the operation would consist of a 3 billion euro rights issue and, in addition, the issuance of hybrid capital instruments, which were expected to receive partial equity recognition.

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