America Movil sells 750 mln euros in bonds convertible into KPN shares
MEXICO CITY, Sept 10 (Reuters) - Mexican telecoms giant America Movil said on Thursday it had completed a placement of 750 million euros ($840.15 million) worth of bonds convertible into shares of Dutch telco KPN.
America Movil, which is controlled by the family of Mexican billionaire Carlos Slim, said the bonds will last for three years and will pay an annual coupon of 5.5 percent.
Earlier this year, bankers involved in the transaction said America Movil completed a 3 billion euros ($3.36 billion) sale of bonds exchangeable for KPN shares, leading to a possible exit by the Dutch firm's largest shareholder after three difficult years. ($1 = 0.8927 euros) (Reporting by Gabriel Stargardter and Veronica Gomez)
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