AMSTERDAM--America Movil SAB de CV (AMX) alleges Royal KPN NV
(KPN.AE) has deliberately breached talks between them by demanding
that America Movil give up some of its voting rights, reports Dutch
daily Het Financieele Dagblad Tuesday based on an interview with
America Movil chief financial officer Carlos Garcia Moreno.
"They knew that we would never accept that. One share, one vote
is sacred for us", the paper quotes Garcia Moreno as saying.
America Movil wants to acquire up to 27.7% of KPN and has made a
partial offer of EUR8 per KPN share which ends June 27. KPN has
rejected the offer as too low. Currently, America Movil holds 8.46%
in KPN.
Garcia Moreno also said America Movil was prepared to close a
shareholders' agreement. "We do not know such thing in Mexico, but
we have given in at many points. But giving up voting rights was
unacceptable for us."
Last week, America Movil bought a 23% stake in Telekom Austria
by taking over the stake directly from another shareholder in the
Austrian telecom company.
Write to Robin van Daalen at robin.vandaalen@dowjones.com