America Movil threatens to abandon KPN takeover bid

By Robert-Jan Bartunek BRUSSELS (Reuters) - America Movil threatened to abandon its 7.2 billion euro ($9.5 billion) bid for Dutch telecommunications group KPN on Friday after a company foundation told the Mexican firm to make a better offer or it would veto the bid. The foundation, an independent group of former executives from Dutch companies tasked with protecting the interests of KPN stakeholders, bought almost 50 percent of KPN's voting stock late on Thursday, blocking the deal. America Movil responded testily to the foundation's move, insisting it was not going to pay more for KPN. ...



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