America Movil in talks with KPN over takeover offer

|About: America Movil SA de CV (AMX)|By:, SA News Editor

Has Carlos Slim's bluff been called? Slim's America Movil (AMX, AMOV), which owns 29.8% in KPN (KKPNY.PK), is in talks over a full takeover of the Dutch telecom carrier, the latter says.

America Movil had offered €7.2B ($9.58B) to acquire the shares in KPN it doesn't own but threatened to drop the bid in response to the KPN foundation adopting a poison pill.

KPN shares rose yesterday on speculation that Slim would increase his proposal even though America Movil has said there is "no way" it would do so. (PR)