Dutch operator group KPN has announced that its net profit for the first half of 2012 has fallen by a staggering 40 per cent. The figure stood at €603m ($729m), compared to the €1.01bn the firm recorded in 1H11. Revenue from the half dropped by 2.2 per cent to €6.38bn compared with the €6.52bn the firm generated in the same quarter a year earlier.
Latin American operator group América Móvil has acquired yet more shares in Dutch operator KPN, taking its stake in the company to 23.43 per cent. The Mexico-based operator, owned by billionaire Carlos Slim, announced its intention to take its stake up to 28 per cent in May, but KPN told its shareholders not to accept the unsolicited $3.25bn bid for shares.
The diminished room for growth in Latin America and the negative macroeconomic situation and operating environment in Europe mean that times are ripe for America Movil to launch into a European expansion campaign. In Latin America, the cash-rich Mexico-based telecoms group has a history of buying troubled operators at good prices to turn them into profitable companies, by exploiting synergies and developing efficient operations.
Latin American operator group América Móvil is increasing its presence in Europe by acquiring a 21 per cent stake in Telekom Austria. The purchase comes in the same week that the operator increased its stake in Dutch operator KPN.
América Móvil has taken its stake in Dutch operator group KPN from 4.8 per cent to 7.3 per cent, after purchasing 6 million ordinary shares in the company. The Mexico-based operator, owned by billionaire Carlos Slim, announced its intention to take its stake up to 28 per cent in May, but KPN told its shareholders not to accept the unsolicited $3.25bn bid for shares, which values each share at €8, claiming that the offer is too low. The 6 million shares it has now acquired however, valued shares at €7.80 each.
KPN has told its shareholders not to accept the unsolicited $3.25bn bid for shares from Mexican operator group América Móvil, claiming that the offer is too low. The operator labelled the bid, which values each share at €8, as “opportunistic” and said that it does not reflect full potential value of the firm.
Latin-American operator group America Movil has tendered a bid to take its stake in Dutch fixed-line and mobile operator KPN from 4.8 per cent to 28 per cent, as it aims to expand its geographic reach. The firm, bankrolled by billionaire Carlos Slim, is currently the third largest operator group in the world, in terms of subscriptions, according to Informa’s World Cellular Information Service (WCIS).
Latin American operator group América Móvil is spearheading the launch of a mobile money service in Mexico, aimed to serve the nation’s underbanked population. The service, called Transfer, will be launched by a joint venture between the operator, Citibank´s Mexican unit Banamex and local bank Banco Inbursa.
América Móvil, the Latin American carrier owned by magnate Carlos Slim, has announced a deeper partnership with AT&T to deliver IP-based services to enterprises throughout LatAm and growth markets in Asia and the Middle East.
In a telecoms market not noted for competition, Mexico’s MVS Communicaciones’ announcement of plans to invest $1bn in an LTE network as part of a consortium that includes Clearwire and Intel should, in theory, shake things up. The consortium would sell access to its network to a variety of local players, including its rivals, opening up a market that has been dominated by billionaire Carlos Slim’s America Movil.
Latin American operator, America Movil, has launched its $21.8bn bid for control of three other regional telecoms firms. It sounds like big money but given that America Movil’s top man is none other than Carlos Slim Helu, the richest man in the world, such moves are to be expected.
Carlos Slim, head of Latin American powerhouse America Movil and third richest man in the world, may be jumping a couple of spaces in the rich list on the back of a move to consolidate his empire.
The son of Carlos Slim, one of the three richest men in the world, Patrick Slim Domit inherited from his father the number one spot at the third largest mobile carrier group in the world, by subscriber numbers.
Mexican mobile operator Telcel, a subsidiary of America Movil, said this week it has launched a mobile TV service in Mexico. The carrier has teamed up with content distributor and mobile TV platform ROK Entertainment Group to launch Ideas TV, a streamed, live and on demand mobile TV subscription service, delivered over Telcel’s 3G network […]
America Movil’s rapid rate of expansion throughout Latin America has helped its owner, Carlos Slim Helu, obtain a prominent seat at the table of world’s super rich.
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