America Movil Ups KPN Stake

America Movil Ups KPN Stake

Mexico Europe M&A

Mexican telecom America Movil (AMX) has spent EUR102m ($127m) to purchase 14m ordinary shares in Dutch telecom KPN at a cash price of EUR7.80-EUR7.85 per share, it says, levels lower than the EUR8.00 it is offering to holders in an offer launched in May. The series of transactions revealed Monday and Tuesday brings AMX's holding to 7.86%, or 112.5m shares, it says in a statement. KPN, which hired Goldman Sachs and JP Morgan to advise it on its alternatives, is heard to be considering spinning of

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