KPN ‘Laser Focused’ on 3 Billion-Euro Share Sale, CFO Says
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Royal KPN NV, the Dutch phone operator partly owned by Carlos Slim’s America Movil SAB, is now “laser focused” on selling 3 billion euros ($3.9 billion) in shares after closing a hybrid bond program, Chief Financial Officer Eric Hageman said.
“Just as in Europe, we’ve found a lot of interested investors in the U.S. and Asia that really believed in our story,” Hageman said in a telephone interview today, adding the hybrid bonds -- which are expected to receive 50 percent equity recognition -- were oversubscribed by more than eight times.