Deals
Billionaire Slim Claims Victory in Europe With 21% KPN Stake
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Billionaire Carlos Slim succeeded in his quest for an influential stake in Royal KPN NV, more than doubling his shares after the former Dutch phone monopoly failed to persuade investors to refuse his advances.
America Movil SAB, Slim’s wireless carrier, yesterday disclosed a 21 percent stake in KPN, up from 8.7 percent the previous day. KPN earlier ended talks on a combination of its German business with a rival, a deal the company had sought to convince shareholders would provide greater value than Slim’s offer of 8 euros a share.