Date: Tuesday 08 May 2012
LONDON (ShareCast) - América Móvil (AMX) is making a move into Europe and has announced plans to acquire up to 28 per cent of the Dutch telecom operator KPN in a deal that could be worth 2.64bn euros (2.13bn pounds).
The Mexican telecom owned by billionaire Carlos Slim already owns 4.8% of the company and announced that it would offer €8 per share in stock for the stake.
“The investment in KPN represents the first significant investment by AMX in Europe,” according to a company statement.
AMX’s investment may be limited to 28% because Dutch law requires any share above 30% to launch a full takeover offer.
Slim’s company expects the close the offer by the beginning of June.
KPN soared 17.82% to €7.65 in early trading on Tuesday.
JM
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Currency | Euro |
Share Price | 3.43 |
Change Today | -0.01 |
% Change | -0.17 % |
52 Week High | 3.49 |
52 Week Low | 3.08 |
Volume | 5,081,948 |
Shares Issued | 3,971.63m |
Market Cap | 13,635m |
Beta | 0.05 |
Time | Volume / Share Price |
17:35 | 5,055 @ 3.43 |
17:35 | 1,456 @ 3.43 |
17:35 | 6,045 @ 3.43 |
17:35 | 8,763 @ 3.43 |
17:35 | 10,176 @ 3.43 |
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