Reuters logo
Telefonica says America Movil to vote in favour of KPN's E-Plus deal
August 26, 2013 / 6:01 AM / 4 years ago

Telefonica says America Movil to vote in favour of KPN's E-Plus deal

MADRID, Aug 26 (Reuters) - Spain’s telecom giant Telefonica on Monday said America Movil, KPN’s main shareholder, had given an irrevocable commitment to approve the sale of KPN’s German subsidiary, E-Plus.

In a statement to the Spanish stock market regulator, Telefonica also said it had improved its offer for E-Plus, for which KPN will now receive 20.5 percent of Telefonica Deutschland instead of 17.6 percent previously.

Telefonica will sign an option to buy back 2.9 percent of its subsidiary after a year at a price of 510 million euros ($683.58 million).

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below