America Movil wants to 'unlock value' in KPN: report

Mon Aug 12, 2013 2:28am EDT
 
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AMSTERDAM (Reuters) - Mexican billionaire Carlos Slim's America Movil (AMX.N: Quote) wants to 'unlock value' from Dutch telecoms group KPN (KPN.AS: Quote) and is not just interested in its German business E-Plus, a Dutch newspaper reported on Monday, quoting the Mexican group's finance chief.

America Movil said on Friday it would offer 7.2 billion euros ($9.6 billion) for the 70 percent of KPN that it does not already own - posing a challenge to its arch-rival, Spain's Telefonica (TEF.MC: Quote), which made an $11 billion offer last month to buy E-Plus, KPN's crown jewel.

KPN "is a great company with great possessions. They only need to unlock the hidden long-term value," Carlos García Moreno, AMX's chief financial officer, told Dutch daily newspaper het Financieele Dagblad.

He said AMX has not yet formalized its position regarding E-Plus, and that it was premature to comment on whether KPN's current management would remain in place following an acquisition by the Mexican group.

($1 = 0.7490 euros)

(Reporting by Sara Webb; Editing by Greg Mahlich)

 
The data center of Dutch telecoms group KPN is seen in Haarlem May 31, 2012. REUTERS/Paul Vreeker/United Photos