EQT has approached both KPN’s management and the Dutch government in recent weeks to discuss a possible deal, the source said.
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EQT and KPN declined to comment while America Movil was not immediately available.
KPN shares rose almost 6.5% on Thursday to 2.64 euros.
On October 28, KPN boss Joost Farwerck told reporters during the company’s third-quarter results that KPN was not planning on being bought but remained open to interest.
“If somebody comes along with an interesting proposal, we can always listen, but we’re not focused on it,” he said.
EQT owns the Netherlands’ second-largest fibre optic network, DeltaFiber, and may use it as a vehicle to buy parts of KPN’s fibre business and extract some synergies, or cost efficiencies, if an outright takeover fails to win the blessing of Dutch government officials, the source said.
In May, the Dutch government passed a law that allows it to block takeovers of companies in the telecommunications sector that it deems to be not in the interest of national security.
“Any deal for KPN needs to be friendly. EQT will never go hostile,” the source said.
The Netherlands’ Economic Affairs ministry, which oversees KPN, did not respond to requests for comment on Thursday.
An attempt to buy KPN for 8 euros per share in 2013, by America Movil, floundered on KPN’s poison pill defences, which are still in place.
Reporting by Pamela Barbaglia in London and Toby Sterling in Amsterdam;
Editing by Jane Merriman, Elaine Hardcastle, Kirsten Donovan
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