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America Movil buying into KPN

It looks like America Movil is gearing up to acquire up to 28% of Dutch telco KPN, in what the latter's management claim is an unsolicited offer.


What's interesting is that KPN bosses haven't dismissed the idea of such a sale, though they do note the proposed price of €8 per ordinary KPN share "substantially undervalues the company."


The proposed deal is also intriguing because it would be one of the first examples of a Latin American telco buying into a European operator, rather than big European telcos snapping up properties in South America.


You have to wonder at the rationale, though, given growth potential of LatAm versus stagnation in the European market.