Mexico’s Slim Wins 28% KPN Stake to Expand Europe Influence

America Movil SAB, Mexican billionaire Carlos Slim’s wireless carrier, won the 28 percent stake it sought in Royal KPN NV, increasing its influence in Europe even after opposition from the Dutch operator.

After expanding its holding in KPN to 24.9 percent through market purchases, America Movil accepted 40 million shares through a tender offer of 8 euros a share, Slim’s company said yesterday. That took America Movil’s stake to almost 28 percent, its limit under the tender offer.