América Móvil Announces Tender Offer For KPN Shares - Quick Facts

(RTTNews) - America Movil S.A.B. De C.V. (AMX, AMOV) reported its intention to make a voluntary tender offer in cash either directly or via. its subsidiary for all shares of Dutch telecom firm Koninklijke KPN N.V. (KPN, KKPNY.PK), at a price of 2.40 euros a share, which implies nearly 35.4% of premium over the average closing price of KPN's ordinary shares on Euronext Amsterdam for the last 30 trading days.

As of the date hereof, América Móvil held around 1.27 billion ordinary shares in the capital of KPN, representing about 29.77% of all issued and outstanding ordinary shares in the capital of KPN.

The intended offer would be subject to conditions, including a minimum acceptance condition that following settlement of the Intended Offer América Móvil would directly or indirectly hold over 50% of the voting rights exercisable in a general meeting of shareholders of KPN, required regulatory approvals, no competing transactions having been announced or made by any party and no material adverse event having occurred.

América Móvil plans to submit an offer memorandum to the Netherlands Authority for the Financial Markets for approval, to make the required statement that it would have means available to fund the offer price payable under the intended offer, and to finalize all required documentation with regard to the intended offer expeditiously. Once the offer memorandum is approved by the AFM, the offer would be made and the offer memorandum would be published. This may take place during September 2013.