America Movil Secures Cash For $9.6B KPN Takeover

Law360, New York (August 21, 2013, 1:43 PM EDT) -- Mexican telecommunications group America Movil SAB de CV said on Wednesday that it now has the funds for its proposed €7.2 billion ($9.6 billion) takeover of Royal KPN NV, a move that may be too late to disrupt the Dutch firm's planned sale of its German unit to Telefonica SA.

Securing enough cash is America Movil's latest step in efforts to up its interest in the firm, which currently stands at an approximately 30 percent stake, according to the company. America Movil's recent takeover moves followed...
To view the full article, register now.