AMSTERDAM--America Movil SAB de CV (AMX) wants to continue with
the current board of Royal KPN NV (KPN.AE), says America Movil's
Chief Financial Officer Carlos Garcia Moreno in an interview with
Dutch newspaper De Telegraaf on Monday.
"There is a match with the KPN board. The only difference is the
price of our offer. We want to continue with the current board",
the paper quotes Garcia Moreno as saying.
The CFO adds that America Movil wants to be a stable shareholder
in KPN for the long term. Investing and creating value are his
priorities for KPN.
On Thursday, after the closing of the European stock markets,
America Movil announced that it holds almost 21% in KPN. After
that, KPN gave up its fight against America Movil.
America Movil announced its partial offer of EUR8 a KPN share on
May 8, with the intention to raise its stake from 4% to 27.7%. The
offer period expires on Wednesday, June 27.
KPN rejected the offer as too low and advised its shareholders
not to sell their shares to America Movil.
Write to Robert van den Oever at
robert.vandenoever@dowjones.com