America Movil Lobs $9.6B KPN Bid, Threatening Rival Offer

Law360, New York (August 9, 2013, 1:44 PM EDT) -- Mexican billionaire Carlos Slim on Friday lobbed a €7.2 billion ($9.6 billion) bid for the slice of Dutch telecommunications firm KPN NV that it does not already own, threatening a previously approved takeover offer for the company’s prized German unit made last month by Telefonica SA.

The move comes less than two weeks after Slim, through his America Movil SAB telecommunications unit, scrapped an agreement that capped the Mexican company’s KPN stake at 30 percent.

Speculation has swirled that Slim would make a buyout play that...
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