America Movil says ready to abandon KPN bid

BRUSSELS Fri Aug 30, 2013 3:22am EDT

BRUSSELS Aug 30 (Reuters) - Mexican telecoms group said it remained committed to its 7.2 billion-euro ($9.52-billion) takeover bid for Dutch group KPN but would withdraw it if a foundation prepared to block the deal kept its current stance.

Late on Thursday, an independent foundation tasked with protecting the interests of KPN said it had exercised an option to buy certain shares that will give it almost 50 percent of KPN's voting stock, temporarily blocking the deal.

"America Movil is a company that continues to grow, serving more customers and investing more in the development of new services. This is what we aim to do with KPN," America Movil said in a statement on Friday.