AMSTERDAM (Reuters) - Mexican billionaire Carlos Slim’s America Movil (AMX.N) wants to ‘unlock value’ from Dutch telecoms group KPN (KPN.AS) 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), 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