KPN Open To Renewed America Movil Talks, CEO Says

Law360, New York (October 17, 2013, 10:52 AM ET) -- Dutch telecom giant Royal KPN NV could reopen buyout talks with America Movil SAB de CV, the company’s top executive told reporters a day after the Mexican suitor pulled its €7.2 billion ($9.8 billion) takeover bid.

KPN CEO Eelco Blok said renewed negotiations were possible, but the executive echoed a company statement released late Wednesday, saying the €2.40-per-share proposal that America Movil rolled out in August undershot his company’s true value.

“From the outset, KPN has stated to America Movil that, in the view of the...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers