KPN’s Telefónica Deutsch trade fails to clear

Jon Hay,

Olivier Holmey

November 10, 2015 04:30 pm

Blok_Eelco KPN CEO source AP 230x150 — CEO Eelco Blok looks up at the start of a shareholders meeting at the head office of Dutch telecom KPN in The Hague, Netherlands, Wednesday Oct. 2, 2013. Shareholders of Royal KPN NV are set to vote Wednesday on the sale of the companys German mobile subsidiary E-Plus for 11.4 billion U.S. dollars to Telefonica SA at a meeting that may be overshadowed by wider questions about KPNs fate. Mexican billionaire Carlos Slim owns an economic stake of 30 percent in KPN via his company America Movil, and plans a takeover bid of 2.40 euros (3.25 U.S. dollars) per share, or 7.2 billion euros, for the rest. (AP Photo/Peter Dejong) | Peter Dejong/AP/Press Association Images

Koninklijke KPN, the Dutch telecoms company, sold a quarter of its stake in Telefónica Deutschland for €805m on Monday night, but the deal failed to get covered, leaving Citigroup and UBS long.

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Topics

Germany News content UBS Equity ABBs-Block Trades Citi

JH

Jon Hay

OH

Olivier Holmey