America Movil bids for remainder of KPN

9 Aug 2013

America Movil (AM) has bid EUR7.2 billion (USD9.6 billion) to acquire the shares in KPN it does not already own. The Mexican company currently has a stake of just below 30% in the Dutch telco. The move comes while KPN is considering an offer for its German mobile unit E-Plus from Telefonica. AM reportedly considers the offer from Telefonica for the cellco as being too low, and, if successful, AM’s bid to gain outright control of KPN could scupper the proposed Telefonica-E-Plus tie-up. KPN says it is ‘carefully considering’ AM’s offer.

Netherlands,E-Plus Group, KPN, Telefonica, America Movil (AM),

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