AMX Launches Dutch Tender

AMX Launches Dutch Tender

Mexico Europe M&A

As planned, America Movil (AMX) has launched an offer to buy up to 22.9% more of Dutch telecom KPN, it says, and bring its stake as high as 27.7%. The Mexican telecom aiming to expand in European markets while valuations are low is offering KPN holders EUR8.00 per share through June 27 for up to 325m shares, or about $3.25bn total. KPN says it will review the bid, while reiterating the view that the offer is too low. KPN shares closed Wednesday at EUR7.67. KPN hired Goldman Sachs and JP Morgan t

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