So a big European telco is to be fully owned by a developing-economy company? Given the weak management of European telcos, this should not come as a surprise. Europe is not of great interest to us, but we did touch on this. One wishes it was a different company, more efficient, less immersed in a monopoly culture, but still . . .
Mexican billionaire Carlos Slim’s telecom giant America Movil (AMX.N)(AMXL.MX) said on Friday it is launching an offer to purchase all the shares of Dutch telecom group KPN (KPN.AS) it does not already own at 2.4 Euros ($3.21) per share.
The announcement comes just weeks after America Movil terminated an agreement to keep its holding below 30 percent, in a sign it could seek to take over the company.