June 18, 2012 / 9:54 PM / 5 years ago

Slim's America Movil ups stake in KPN to 8.46 percent

MEXICO CITY (Reuters) - Mexican tycoon Carlos Slim’s cell phone giant America Movil (AMXL.MX) said on Monday that it has boosted its stake in Dutch telecom KPN (KPN.AS) to 8.46 percent, the fourth such increase in less than two weeks.

The company said in a statement it had bought another 4.65 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.

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.

Last week, America Movil said it was building its stake in Telekom Austria to 23 percent after buying out investor Ronny Pecik . Additionally, the Slim family disclosed on Friday they held another 3.14 percent voting stake in the Austrian firm.

Reporting By Cyntia Barrera Diaz; Editing by Bernard Orr

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