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América Móvil's shares drop after KPN deal

Tuesday, July 30, 2013

Shares in Mexican billionaire Carlos Slim's América Móvil fell as much as 1.4 percent at the open on Monday.

The drop comes after the telecoms company ended an agreement to keep its holding in Dutch telco KPN below 30 percent.

América Móvil, which owns 29.8 percent of KPN, was entitled to end the agreement after Spain's Telefónica bid $10.7 billion for KPN's German mobile arm E-Plus, KPN said earlier on Monday.

Source: Reuters