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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).