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19th of November 2018


America Movil cuts stake in KPN to 16 percent

The logo of America Movill is seen on the wall at the company's corporate offices in Mexico City, Mexico March 14, 2018. REUTERS/Carlos Jasso

AMSTERDAM (Reuters) - Mexican telecommunications company America Movil has cut its stake in Dutch telecoms company KPN to slightly more than 16 percent, a filing at financial watchdog AFM showed.

Movil, controlled by tycoon Carlos Slim, had previously reported a stake of 21.4 percent.

Movil tried to buy KPN in 2013 but gave up attempts after being stymied by KPN’s poison pill measures.

Reporting by Toby Sterling; editing by Jason Neely

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