Mexico-based telecoms giant America Movil, owned by the billionaire Carlos Slim, announced yesterday that it has boosted its stake in Dutch telecoms group KPN (or Royal KPN as it is also known) to 8.46%. In its fourth such share increase in as many weeks, AM purchased another 4.65 million ordinary shares in the Dutch incumbent, ramping up pressure on KPN’s shareholders to accept his offer for an even bigger stake in the former monopoly. As reported by TeleGeography’s CommsUpdate, at the end of last month AM launched a formal bid for a 27.7% stake in the Dutch telecoms group, following an announcement earlier in the month that it was considering a possible USD3.45 billion deal for the shares as part of a plan to secure a foothold in the European market.
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OVETEL AM acquires more KPN shares; boosts stake to 8.46%
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