America Movil Hits KPN Target

America Movil Hits KPN Target

Mexico Europe M&A

America Movil (AMX) is poised to reach a 27.70% stake in Dutch telecom KPN following the close of a public tender offer, it says. It has received offers in the tender for more shares than it needs to reach the pre-set ownership limit. Through the offer launched last month, it had been targeting up to 325m shares, at a price of EUR8.00 ($9.15) per share. The shares closed at EUR7.32 Wednesday. The Mexican telecom is looking to increase its beachhead in Europe at an attractive valuation. Despite A

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