AMERICA MOVIL ABANDONS BID FOR KPN
Must KPN remain in Dutch hands?
On NU.nl I read the report that the Mexican telecom company América Móvil, owned by the billionaire Carlos Slim, is abandoning a bid for the Dutch company KPN. The report reads: “The company refers in a statement to the Mexican stock exchange authorities to the barrier that the Stichting Preferente Aandelen B KPN [Foundation for KPN B Preference Shares] has thrown up and to the discussions it has held with the Dutch company. These have shown according to América Móvil that it would be impossible to obtain more than 50 percent of the KPN …
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CAN A FOREIGN COMPANY BUY SHARES IN A DUTCH CARIBBEAN COMPANY?
Generally speaking: yes
Under Netherlands Antilles law, no specific requirements exist regarding the purchase of shares in a Netherlands Antilles offshore company by a foreign company. The Netherlands Antilles do not have any anti-trust regulations.
In the Netherlands Antilles there are no statutory requirements preventing the sale of one or all the shares issued and outstanding or any requirements in the form of governmental license or registration. Certain restrictions apply however, if the target company is a bank or insurance company.
According to Netherlands Antillean corporate law shares are transferable, in principle. However, there is one exception. The articles of …
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