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20 February 2013
América Móvil, KPN’s largest shareholder, has agreed to support the Dutch telco’s bid to raise €4 billion in equity capital.
The Latam telecoms group said it will approve the bid
subject to the appointment of two individuals it designates to
KPN's supervisory board, among other conditions.
These will be put before a general meeting of
Dutch telecoms group KPN has reported better-than-expected Q2 core profits after the company’s cost-cutting plan made up for poor results in most of its units.
América Móvil has claimed that Mexico’s revolutionary telecoms reforms are already beginning to take its toll, after the company revealed a slightly poorer performance than predicted in its core market.
Mexican billionaire Carlos Slim has acquired AT&T’s stake in his own Latin American telecoms firm, América Móvil.
Vodafone is unlikely to acquire any telecoms assets in Mexico, CEO Vittorio Colao said today.
America Móvil is set to take control of over half of Telekom Austria for approximately $1 billion.
Carlos Slim’s América Móvil has revealed plans to reduce its market presence in Mexico to less than 50%.