Mexican telecoms group America Movil (AM), controlled by billionaire Carlos Slim, will today launch a formal bid for a 28% stake in Dutch telecoms group KPN Telecom (or Royal KPN), the company announced on Tuesday. As reported by CommsUpdate, earlier this month AM unveiled plans for a possible USD3.45 billion deal for the shares as part of a plan to secure a foothold in the European market. The Mexico-based group already owns 68.3 million shares, 4.8% of KPN’s stock, but unveiled plans to table a cash offer worth EUR8 (USD9.9) per share to increase its equity holding to 28% - 23.5% higher than KPN’s closing price on 7 May
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OVETEL AM launches formal bid for KPN shares; Dutch telco adamant that offer is too low
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