America Movil Launches Offer To Raise Stake In Royal KPN

Date : 05/29/2012 @ 12:25PM
Source : Dow Jones News
Stock : America Movil, S.A.B. de C.V. American Depository Receipt Series L (AMX)
Quote : 15.52  0.13 (0.84%) @ 11:37AM

America Movil Launches Offer To Raise Stake In Royal KPN

America Movil (NYSE:AMX)
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Mexican telecommunications company America Movil SAB (AMX, AMX.MX) said Tuesday it's offering to raise its stake in Dutch phone company Royal KPN NV (KKPNY, KPN.AE) to as much as 27.7% for 8 euros ($9.98) per share.

America Movil, controlled by billionaire Carlos Slim, said the offer is for up to 325 million KPN shares, which would bring its total holding in the Dutch company to 393.3 million shares. America Movil currently has a roughly 4.8% stake in KPN.

America Movil said KPN shareholders can submit shares under the offer starting Wednesday at 9 a.m. central European summer time and ending June 27 at 5:50 p.m. CEST.

The offer marks the first major investment in Europe for America Movil, which is the largest mobile service provider in Latin America.

-By Anthony Harrup, Dow Jones Newswires; (5255) 5980-5176, anthony.harrup@dowjones.com




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