America Movil (AMX) has upped its stake in Dutch telco KPN for the third time this week, taking its total shareholding to 8.12%.
Carlos Slim’s Mexico-based telecoms group said it has acquired an extra 3.7 million ordinary KPN shares in a…
America Movil (AMX) has upped its stake in Dutch telco KPN for the third time this week, taking its total shareholding to 8.12%.
Carlos Slim’s Mexico-based telecoms group said it has acquired an extra 3.7 million ordinary KPN shares in a transaction outside regular market trading, paying €7.90 per ordinary share.
As with its two other stake increases this week, AMX paid less than the €8 per share it is offering KPN shareholders as part of its tender offer to boost its stake in the company to 27.7%. However, the price has steadily crept up – AMX paid €7.80 per share for an extra six million shares on Monday 11 June and €7.80 to €7.85 per share for an additional eight million shares the following day.
The acceptance period for AMX’ tender offer closes on 27 June.
