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...
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