Dutch telecoms operator KPN (or Royal KPN) has failed in its bid to find a buyer for its German unit E-Plus Mobilfunk – a move designed to stave off a hostile approach by Carlos Slim’s America Movil (AM) – just days before the Mexican’s tender offer for KPN shares closes. Talks between the Netherlands-based group and an unnamed interested party reportedly broke down on Wednesday, leaving KPN with precious few options when it comes to fighting off AM’s advances. The Dutch carrier is due to respond to Slim’s formal tender offer on Thursday, ahead of its closing date of 27 June.
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OVETEL KPN’s bid to finder buyer for E-Plus fails
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