BRUSSELS Jan 10 Shareholders of Dutch telecoms
group KPN on Friday approved the withdrawal of
preference shares which gave an independent foundation the power
to fend off a bid by Mexican group America Movil.
In August the foundation, tasked with protecting the
interests of KPN stakeholders, bought the preference shares that
gave it almost 50 percent of KPN's voting stock, saying it
wanted America Movil, owned by billionaire Carlos Slim, to make
a fair offer for the group.
America Movil had offered 2.40 euros per share for the Dutch
telecoms group and in October said it would not buy any more of
the company when it could not reach a deal with KPN.
After the withdrawal of the preference shares, expected to
take place in March, America Movil will once again have close to
30 percent of the voting rights in the Dutch company.