America Movil’s KPN stake grows again

28 Jan 2021

Mexican telecoms group America Movil (AM) has increased its stake in Dutch telco KPN to above 20%, reports stock market news site DeAandeelHouder citing a notification dated 22 January 2021. AM reported a capital interest of 20.02% in KPN, with unchanged voting rights.

TelelGeography’s GlobalComms Database says AM acquired a 27% KPN stake in June 2012 and launched a hostile takeover bid in August 2013 after a 30% cap was voided as a by-product of KPN selling German unit E-Plus, but AM scrapped the bid two months later when an independent foundation representing KPN shareholders stepped in to block it. AM offloaded 6% and 5% tranches in May 2015 and September 2018 to reduce its holding to 16%, but reported its stake grew once more to 17.1% at end-June 2020 and 17.9% at 30 September 2020.

Netherlands, America Movil (AM), KPN