KPN shareholder Slim holds out on Telefónica deal

 
 
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Tuesday July 23 2013
 
 
Breaking news
 
KPN shareholder Slim holds out on Telefónica deal
 
KPN has still to secure the support of its largest single shareholder for a transformational deal that would see the Dutch telecom group sell its German operations to Telefónica for €8.1bn in cash and shares.

Two KPN directors appointed by America Movil (AMX), which is controlled by Mexican billionaire Carlos Slim, did not vote in favour of the deal, according to people close to the situation. However, the backing from the remaining six directors was enough to secure board approval for the deal.
 
 
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