Shares in the united states Movil rise after raises doubt on bid for KPN

united states Movil rise after raises doubt on bid for KPN

united states Movil rise after raises doubt on bid for KPN

MEXICO CITY (Reuters) - Shares in Carlos Slim's telecoms giant America Movil <AMXL.MX> rose over 1 % at market opening on Friday following the firm threatened to abandon its 7.2 billion euro bid for Dutch group KPN <KPN.AS> on account of capacity its offer.

The KPN foundation, an impartial number of former executives from Dutch companies, tasked with protecting the interests of KPN stakeholders, bought almost 1 / 2 of KPN's voting stock on Thursday, blocking the offer.

America Movil, that's looking at a substantial paper loss after acquiring nearly 30 % of KPN a year ago, said hello remained devoted to acquiring the company but could withdraw its bid if the foundation did not stop trying its opposition for the offer.