America Movil Threatens To Toss €7B KPN Bid Amid Backlash

Law360, New York (August 30, 2013, 1:32 PM EDT) -- Mexican telecommunications firm America Movil SAB de CV on Friday threatened to yank its €7.2 billion ($9.6 billion) buyout bid for Dutch rival Royal KPN NV after a foundation tied to the target company stiffened its opposition with a major stock purchase.

The foundation, made up of former Dutch executives charged with safeguarding KPN shareholders' interest, had previously called for a heftier offer. But the group deepened its opposition in a late Thursday deal that gave it nearly 50 percent of KPN's voting shares — enough...
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