KPN Open To Renewed America Movil Talks, CEO Says

Law360, New York (October 17, 2013, 10:52 AM EDT) -- 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...
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