Slim reconsiders KPN sale – report

Carlos Slim’s América Móvil is reportedly once again looking at selling its 21% stake in Dutch incumbent KPN. French incumbent Orange could be interested in the minority stake, valued at some €3.2bn (US$3.6bn). 

Carlos Slim’s América Móvil (BMV:AEX) is reportedly once again looking at selling its 21% stake in Dutch incumbent KPN (AMS:KPN).

French incumbent Orange (EPA:ORA) could be interested in the minority stake, valued at some €3.2bn (US$3.6bn), Bloomberg cited people with knowledge of the matter saying.

Slim has not made a decision on the timing or structure of the sale, the report added.

German incumbent Deutsche Telekom (ETR:DTE) and billionaire Patrick Drahi’s Altice (AMS:ATC) could also be interested, although Orange is probably the most likely suitor, KBC Group analyst Ruben Davos was cited saying.

América Móvil bought into KPN in 2012, going on to amass a stake of almost 30% despite ongoing discord with its management. The Mexican telco’s relationship with another European target, Telekom Austria, has been significantly more harmonious.

While the Dutch telco would not have a direct say in the matter, it has reportedly contacted sovereign wealth funds and other potential long-term investors in Asia which it thinks would support its management and strategy.

América Móvil was not immediately available for comment.