América Móvil close to KPN completion

KPN bosses say they are in constructive talks with América Móvil regarding a potential formal takeover offer, which could reportedly come this week.
 
Jos Streppel, chairman of the Supervisory Board, and Eelco Blok, chairman and chief executive, confirmed talks are ongoing in a joint statement last week, but noted the outcome is still uncertain.
 
“[W]e are carefully considering and weighing the interests of our shareholders, employees, customers and other stakeholders on financial and non-financial matters including safeguarding the vital role of KPN in Dutch society,” the statement revealed.
 
However, an investor claims a formal offer by América Móvil is now imminent, and that the Mexican telco won’t budge on its original price of €7.2 billion, Bloomberg reports, noting that neither operator would comment on the speculation.
 
América Móvil threatened to ditch its offer earlier this month, after KPN’s investment foundation moved to block what it viewed as a hostile takeover bid by the Mexican firm.
 
In a separate announcement, KPN revealed it has appointed Steven van Schilfgaarde as interim chief financial officer, following the sudden resignation of predecessor Eric Hageman for personal reasons last week.

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