America Movil seeks 28% stake in KPN

MEXICO CITY (Reuters) - Mexican billionaire Carlos Slim upped the pressure on K

MEXICO CITY (Reuters) - America Movil, the telecoms giant owned by Mexican billionaire Carlos Slim, aims to boost its presence in the U.S. phone market by purchasing California-based firm Simple Mobile, the second acquisition plan the company has unveiled this week. Fresh from bidding for a bigger stake in Dutch telecoms firm KPN NV , at a cost of around $3.5 billion, America Movil's U.S. unit Tracfone Wireless has set its eyes on Simple Mobile, a mobile virtual network operator (MVNO). ...

MEXICO CITY (Reuters) - Mexican billionaire Carlos Slim ramped up his bid for a bigger stake in KPN by purchasing more shares of the Dutch telecommunications company at a lower price than his outstanding tender offer for up to 27.7 percent of the company. America Movil , the jewel of Slim's empire, said on Monday it entered into four separate transactions to buy an aggregate 6 million ordinary shares of KPN , bringing its holding in the Dutch firm to 7.3 percent. "All these transactions were entered into a price in cash of 7.8 euros per ordinary share," the company said in a statement. ...

MEXICO CITY (Reuter

By Retracement:Lo and behold, less than a month after writing 'Profit From Investing Alongside The World's Richest Man: Carlos Slim', the Mexican business magnate struts his stuff again.

Mexican telecoms giant America Movil announced Tuesday it had raised its stake in Dutch operator KPN to 23.4 percent, edging closer to its unsolicited bid for a 27.7-percent share.Taking into account the day's transactions and past purchases, America Movil now held "23.43 percent of all issued and outstanding shares," in the peer telecoms group KPN, the company said in a statement.

Dutch telecoms operator KPN advised shareholders on Friday to hold off on an unsolicited offer by telecoms giant America Movil, as it reviewed strategic options for its German E-plus business."The KPN Boards have carefully considered America Movil's partial offer and unanimously recommend that shareholders take no action in respect of the partial offer," KPN said in a statement.America Movil formally launched its bid on Wednesday for a 28-percent stake in KPN.