KPN Shareholders Approve $11.6B Telefonica Tie-Up

Law360, New York (October 2, 2013, 11:36 AM EDT) -- The shareholders of Royal KPN NV on Tuesday approved plans for an €8.6 billion ($11.6 billion) tie-up between the telecom firm's German operations and those of rival Telefonica SA, a deal that will spawn a top wireless carrier in Europe's trophy economy.

KPN did not disclose how many shareholders voted in support of the deal. However, KPN supervisory board chairman Jos Streppel told reporters gathered in the Netherlands that a foundation tied to KPN that holds almost half of the Dutch company's stock abstained from the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.