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Euronews: KPN Foundation Blocks Slim's Bid

Paul Rainford
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Also in today's EMEA roundup: Could Vodafone fall prey to AT&T? Will Deutsche Telekom sell its Czech unit? Does BT care about its dial-up Internet customers?

  • The independent foundation that looks after the interests of KPN Telecom NV (NYSE: KPN) shareholders has put the cat among the pigeons by effectively blocking América Móvil S.A. de C.V. 's bid for the Dutch incumbent, reports Reuters. The foundation exercised its option to buy shares that give it nearly 50 percent of the voting stock in KPN. America Móvil, the Mexican operator owned by billionaire Carlos Slim, says it will abandon its €7.2 billion (US$9.5 billion) bid for KPN if the foundation does not change its position. (See Euronews: Slim Says KPN Cash Is in Place, Euronews: Slim Makes Move on KPN, and Euronews: Does Slim Want All of KPN?)

  • If Vodafone Group plc (NYSE: VOD)'s planned exit from its Verizon Wireless venture in the US comes to fruition, it may fall prey to AT&T Inc. (NYSE: T)'s acquisitive aspirations, predicts a Bloomberg report. However, AT&T is only interested in the mobile bits of Vodafone, so if the UK-based group expands more into fixed-line or cable, it may be left alone, adds the report. (See Verizon in Talks to Take Vodafone Stake in Big Red, Euronews: VOD Rises on Verizon Buyout Chat, and Verizon Could Pay VOD $130B+ for Wireless Stake.)

  • Deutsche Telekom AG (NYSE: DT) is planning an overhaul of its Eastern European activities, with the sale of its controlling stake in T-Mobile Czech Republic a.s. a distinct possibility, according to a report in the Wall Street Journal. The new strategy coincides with the arrival of Timotheus Höttges as the company's new CEO by the end of the year.

  • Arnaud Castille has replaced Vincent Benoît as Orange (NYSE: FTE)'s executive vice president for mergers and acquisitions. Castille was previously with Vivendi .

  • Ah, the end of an era… the BBC reports that BT Group plc (NYSE: BT; London: BTA) is switching off its dial-up Internet access service on September 1, thereby upsetting several hundred people in the more remote corners of the UK who still cannot get broadband. Still, it's all right, they won't be able to get online to complain.

    He's got his dogs, but he wants his dial-up Internet back.
    He's got his dogs, but he wants his dial-up Internet back.

    — Paul Rainford, Assistant Editor, Europe, Light Reading

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    User Rank: Light Sabre
    8/30/2013 | 6:47:22 AM
    The glory days of dial-up
    Oh BT, have you no soul? Who can forget the sense of anticipation, the rush of adrenalin as the modem ran through its trademark sequence of other-worldly noises? No? Maybe it's just me then.
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