International News

(Telecompaper) America Movil wants to raise its 4.8 percent stake in Dutch operator KPN to 28 percent. The Mexican company, owned by billionaire Carlos Slim, is offering EUR 8 per share, a premium of around 24 percent on KPN's EUR 6.48 closing price the day before the announcement. It will make a public bid to acquire up to 28 percent in KPN, including its existing 4.8 percent stake, which would be worth in total around EUR 3.2 billion. AM, which is active throughout Latin America in the fixed and mobile markets, said it was looking to diversify its operations with its first move into Europe. It said it supports KPN's current strategy and hopes to develop synergies with the Dutch company, including but not limited to roaming, operational efficiencies, content distribution and marketing. KPN welcomed the move, saying it showed how undervalued KPN shares were, Reuters reported.