AMX not planning on increasing bid KPN

The Mexican Telecommunications company América Móvil (AMX) has no intention of increasing its bid of Euro 7,2 billion, says a spokesperson for the company to Reuters.The question came up after the KPN foundation initiated a protective structure around the company. Among other things the foundation wants AMX to re-negotiate the terms for a possible takeover with KPN.

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The foundation had previously expressed concerns about the intentions of  Carlos Slim from AMX with KPN being unclear.  As a response AMX announced it was prepared to withdraw their bid if the foundation blocks the acquisition.