The Dutch carrier also said in a statement that it will seek further clarificiation as to América Móvil’s intentions and in the meantine explore all strategic options.
Carlos Slim’s América Móvil proposed the offer on Monday, worth approximately €3.2 billion, in a bid to increase its 4.8% stake in the company. The eight Euro price is around 24% higher than KPN’s closing share price before AM expressed an interest.
AM has been eyeing opportunities in Europe for some time, having almost exhausted opportunities in its home market of Latin America. In 2007 AM worked with AT&T to secure a stake in Telecom Italia’s controlling company, only to be blocked by Italian politicians.
Many analysts consider Slim to be trying to find a bargain at a time of economic uncertainty across Europe. An increased stake in KPN may also be used as a platform for further expansion across the continent.
KPN has suffered from declining earnings for several quarters and recently considered selling its Belgian mobile operation, BASE.
The Dutch carrier has hired Goldman Sachs and JP Morgan as financial advisors and Allen & Overy as legal counsel.
América Móvil’s offer will take effect in June pending approval by the Netherlands’ financial market authority.
