13 Feb 2014
The Mexico-based international telecoms group America Movil (AM) reduced its stake in the Dutch fixed line and mobile operator KPN from 29.7% to 27.1% during the fourth quarter of 2013. AM stated its interest in KPN in its Q4 2013 financial report, but did not provide details of why the size of the stake had fallen from three months earlier. The Mexican group abandoned a takeover bid for KPN in October last year, when the two parties could not agree on a price and an independent foundation committed to the protection of KPN shareholders’ interests stepped in to block the deal. Speaking in November, KPN chief executive officer Eelco Blok said that he expected AM to retain its stake in the Dutch group, despite the collapse of the takeover.