America Movil Abandons KPN Acquisition Effort
Telecommunications remains a business with perceived national interest implications. In recent days, America Movil has tried to buy incumbent Netherlands telco KPN. But America Movil has been blocked by the KPN Foundation, which had temporarily increased its stake in KPN to just under 50 percent in order to fend off the takeover.
Liberty Global tried to buy German cable company KDG, as well as Netherlands cable company Ziggo, and also failed in both attempts. LIberty Global was successful at acquiring Virgin Media in the United Kingdom.
But Telefonica successfully has concluded its acquisition of Germany's E-Plus (partially owned by KPN), at least in terms of the shareholder vote. Regulatory clearance still is required.
If and when AT&T makes an acquisition bid of its own, national interest, or at least European interest concerns are expected to arise as well.