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22nd of September 2018

Economy



America Movil cuts stake in KPN to 16 percent

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.

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

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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