Debt Concern Follows Latest AMX European Move
America Movil (AMX) has made a EUR7.2bn ($9.6bn) offer for the 70.2% of Royal KPN that it doesn’t own. The move is seen by analysts as an attempt to thwart Telefonica’s ambitions for KPN’s German operation, as well as requiring higher leverage for AMX. The bid comes weeks after the Dutch telecom agreed to sell its German E-Plus business to Spain’s Telefonica for EUR 5.0bn cash and a 17.6% stake in Telefonica Deutschland post-transaction. Many see AMX...
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