June 13, 2012 / 7:06 PM / 7 years ago

America Movil raises stake in KPN to 8.12 percent

MEXICO CITY (Reuters) - Mexican tycoon Carlos Slim’s cell phone giant America Movil (AMXL.MX) said on Wednesday that it has boosted its stake in Dutch telecom KPN (KPN.AS) to 8.12 percent, the third such increase this week.

The company bought another 3.7 million ordinary shares in KPN as Slim pressures shareholders to accept his bid for a bigger stake in the Dutch company.

Slim launched an offer last month for up to 27.7 percent of KPN, paying 8 euros per share tendered. Except for a share purchase announced on May 31, which did not mention a figure, the entrepreneur has raised KPN stock in the market at a lower price than the outstanding tender offer.

America Movil recently disclosed it also owns 4.1 percent in Telekom Austria (TELA.VI).

With little left to buy in Latin America, the world’s richest man has turned his attention to Europe, where the economic crisis made companies vulnerable to acquisitions.

Reporting By Cyntia Barrera Diaz; Editing by Bernard Orr

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