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América Móvil achieves 27.7% of KPN
02 July 2012
Carlos Slim in effective control of KPN as América Móvil buys 27.7% stake in Netherlands incumbent
Carlos Slim-backed Latin American mobile group América Móvil said it has secured a controlling stake in KPN. The Mexican operator now owns 27.7% of the Dutch telecoms company.
América Móvil’s 27.7% stake would provide effective control as around half of KPN’s shareholders are not present at company meetings, said Reuters.
A senior telecoms sector banker told Reuters: “Slim will want to have significant influence after the deal. With 27% he can control the investor meetings as not many people show up.”
KPN owns fixed and mobile operations in the Netherlands and mobile operations in Germany and Belgium.
The move comes two weeks after América Móvil bought a 23% stake in Telekom Austria, which owns operations in a number of central and eastern European countries. GTB
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