Key Developments: Koninklijke KPN NV (KKPNY.PK)

KKPNY.PK on OTC Markets Group

3.44USD
17 Apr 2014
Price Change (% chg)

$0.07 (+2.20%)
Prev Close
$3.37
Open
$3.40
Day's High
$3.45
Day's Low
$3.40
Volume
148,417
Avg. Vol
404,573
52-wk High
$3.82
52-wk Low
$1.91

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Latest Key Developments (Source: Significant Developments)

Fitch affirms Koninklijke KPN NV at 'BBB-'; outlook stable-DJ
Wednesday, 16 Apr 2014 02:05am EDT 

Koninklijke KPN NV:Fitch Ratings affirms Koninklijke KPN NV Long-term Issuer Default Rating (IDR) at 'BBB-'-DJ.Outlook is stable.  Full Article

Koninklijke KPN NV downgraded to Baa3 with stable outlook by Moody's
Thursday, 27 Mar 2014 08:00pm EDT 

Moody's:Downgrades to Baa3 from Baa2 the senior unsecured rating of Koninklijke KPN NV.Downgrades to Prime-3 (P-3) from Prime-2 (P-2) KPN's short-term issuer rating.Outlook stable on all ratings.Downgrade reflects expectation that KPN's financial ratios will remain weak in 2014/2015 with no prospects of recovery in short-term to levels commensurate with the previous Baa2 rating category.  Full Article

Koninklijke KPN NV to cut more jobs-Reuters
Tuesday, 4 Feb 2014 03:34am EST 

Koninklijke KPN NV:will cut up to a further 2,000 jobs after frugal consumers and stiff competition drove down quarterly revenues in its mobile division-Reuters.  Full Article

America Movil SAB de CV Receives AFM's Approval Of Offer Memorandum To Launch Intended Offer For Koninklijke KPN NV's Shares; Foundation Makes Launching Of Offer Not Viable
Wednesday, 16 Oct 2013 03:08pm EDT 

America Movil SAB de CV announced that it received approval from the Netherlands Authority for the Financial Markets (Stichting Autoriteit Financiele Markten, AFM) for its Offer Memorandum to make a voluntary public offer in cash for all of the issued and outstanding ordinary shares of Koninklijke KPN N.V. (KPN), at a price of EUR 2.40 per share (the Intended Offer). As of the date of this announcement, the Stichting Preferente Aandelen B KPN (the Foundation) has a 50% minus one voting interest in the capital of KPN. In view thereof, AMX will not launch the Intended Offer and will not make the Offer Memorandum approved by the AFM publicly available in accordance with Section 10 paragraph 1 of the Takeover Decree.  Full Article

Koninklijke KPN NV’s Shareholders Approve Sale Of E-Plus To Telefonica Deutschland Holding AG-DJ
Wednesday, 2 Oct 2013 02:26pm EDT 

Dow Jones reported that Koninklijke KPN NV (KPN) won approval from shareholders to sell its German mobile business to Telefonica Deutschland Holding AG (Telefonica Deutschland), leaving the fate of the deal in the hands of European anti-trust authorities. At the end of August 2013, Telefonica Deutschland, controlled by Telefonica SA, upped its offer for E-Plus, KPN's German mobile business, to win support from KPN's shareholder, America Movil SAB. Telefonica SA has agreed to pay EUR 5 billion in cash and offered KPN a 20.5% stake in the combined business, valuing E-Plus at EUR 8.6 billion (USD 11.6 billion).  Full Article

Koninklijke KPN NV Appoints Steven van Schilfgaarde As Interim Chief Financial Officer
Thursday, 12 Sep 2013 06:00pm EDT 

Koninklijke KPN NV announced that Mr. Steven van Schilfgaarde has been appointed interim Chief Financial Officer effective September 13, 2013.  Full Article

Koninklijke KPN NV In Talks With America Movil SAB de CV On Intended Unsolicited Public Offer
Wednesday, 11 Sep 2013 06:00pm EDT 

Koninklijke KPN NV announced that its supervisory board and management board have provided an update on the situation regarding America Movil SAB de CV's (“America Movil”) intention to make an unsolicited public offer in cash for all outstanding ordinary KPN shares (the "Intended Offer"). The KPN Boards are in continuous constructive discussions with America Movil on the Intended Offer consistent with their fiduciary duties. These discussions are on financial and non-financial matters related to the Intended Offer including price and terms and conditions, taking into consideration the interests of all KPN’s shareholders and other stakeholders. At this stage the outcome of these discussions is not clear.  Full Article

Koninklijke KPN NV Announces Resignation Of Eric Hageman As CFO-DJ
Monday, 9 Sep 2013 02:04am EDT 

Dow Jones reported that Koninklijke KPN NV Chief Financial Officer (CFO) and Board of Management member Eric Hageman has informed the Supervisory Board of his resignation due to personal circumstances. His decision is not related to working relationships or present circumstances at KPN. Accordingly, Eric Hageman is leaving the company and the Board of Management with immediate effect. Eric Hageman was interim CFO since January 2012 and was appointed Chief Financial Officer and Board of Management member in September 2012  Full Article

Koninklijke KPN NV Updates on Sale of Its E-Plus German Business to Telefonica SA-Reuters
Monday, 26 Aug 2013 02:00am EDT 

Reuters reported that Koninklijke KPN NV announced improved terms for the sale of its German business E-Plus to Spain's Telefonica SA, in a deal worth EUR 8.55 billion (USD 11.46 billion) that has gained the support of America Movil SAB de CV. According to the Koninklijke KPN NV's statement, as a result of the improved terms, America Movil SAB de CV has provided an irrevocable commitment to vote in favor of the proposed transaction at Koninklijke KPN NV's extraordinary general meeting related to the sale of E-Plus.  Full Article

Telefonica SA Says Offer For Koninklijke KPN NV’s E-Plus Is Definitive-Reuters
Friday, 9 Aug 2013 09:45am EDT 

Reuters reported that Telefonica SA said on August 9, 2013 it maintained its offer to buy Koninklijke KPN NV’s (KPN) German business E-Plus under conditions already announced after America Movil SAB de CV launched a USD 9.6 billion bid to take over KPN.  Full Article

Fitch Affirms KPN at 'BBB-'; Outlook Stable

(The following statement was released by the rating agency) LONDON, April 16 (Fitch) Fitch Ratings has affirmed Royal KPN N.V.'s (KPN) Long-term Issuer Default Rating (IDR) at 'BBB-'. The Outlook is Stable. A full list of rating actions is provided below. KPN continued to take steps to strengthen its domestic competitive position in 2013. However, the domestic market remains challenging, and KPN is yet to demonstrate a sustained and improved financial performance. The sale of E-plus to Tele

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