America Movil (AM) the telecoms group owned by Mexican billionaire Carlos Slim has increased pressure on KPN shareholders by buying up more stock of the Dutch telco and at a lower price than his current tender offer for up to 27.7% of the group, Reuters reports. In four separate transactions carried out yesterday, AM acquired a total of six million ordinary shares of KPN to increase its overall holding in KPN to 7.3%. A statement from the Mexican powerhouse confirmed that the transactions were completed at a price of EUR7.8 (USD9.8) per ordinary share
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OVETEL AM increases KPN stake; Dutch firm considers divestments to fend off hostile bid
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