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Slim’s America Movil to Bid for Full Control of KPN

Carlos Slim’s America Movil SAB plans to buy the rest of Royal KPN NV for 7.2 billion euros ($9.6 billion), a move that may interfere with a bigger deal by the Dutch carrier to sell its German business to Telefonica SA.

America Movil will bid 2.40 euros a share in cash for the 70 percent in KPN that it doesn’t own, the Mexico City-based company said today. KPN rose 16 percent to 2.32 euros at the closing of trading in Amsterdam, and America Movil slumped as much as 7.3 percent in Mexico City. The offer, to be made official next month, is subject to America Movil winning a stake of more than 50 percent.