AM considering KPN exit

22 Apr 2016

Mexico-based group America Movil (AM) is considering the sale of its 21.1% stake in KPN of the Netherlands, having failed with a bid to take control of the Dutch telco in 2013. A report from Bloomberg, which cites ‘people with knowledge of the matter’, says that AM’s owner, Carlos Slim, has not yet decided on the timing or structure of the sale. The report names Orange of France and Germany’s Deutsche Telekom (DT) as potential buyers for the stake, though DT would likely first have to offload its T-Mobile Netherlands unit which it put up for sale last year, since T-Mobile and KPN both compete in the Dutch wireless sector.

Slim had been looking for Latin American giant AM to make a push into the European telecoms market via the acquisition of stakes in KPN and Telekom Austria, though its failure to win control at KPN appears to have put paid to its plans as it has made no further forays into the European sector.

Netherlands, America Movil (AM), KPN