Foundation Questions Slim's $9.6B KPN Buyout Proposal

Law360, New York (August 14, 2013, 1:30 PM EDT) -- An independent foundation of Dutch telecommunications firm KPN NV raised concerns late Tuesday about a $9.6 billion offer for KPN by Mexico's Carlos Slim, the world's richest man, putting Slim's bid to take over the Dutch firm in jeopardy.

Slim, through his America Movil SAB de CV telecommunications unit, said Friday that he was offering €7.2 billion ($9.6 billion) for the 70 percent of KPN he does not already own. But the KPN foundation, established in 1994 to protect the company from foreign influences, said in...
To view the full article, register now.