América Móvil scraps KPN purchase deal

América Móvil, the telecoms company of Mexican billionaire Carlos Slim, announced it will scrap its plans to purchase Dutch firm KPN.

After the announcement, América Móvil's shares soared 6 percent, their highest point since February.

Slim's company is currently analyzing what to do with its 30 percent stake in KPN it already owned, after rejecting an earlier purchase offer by the Dutch firm.



Full story (in Spanish)