STOCKS NEWS EUROPE-KPN falls after America Movil lowers stake
Shares in Dutch telecoms group KPN fall as much as 4.2 percent after its Mexican majority owner, America Movil , said it had lowered its stake in the group.
The Mexican company, owned by billionaire Carlos Slim, said on Tuesday it owned 27.1 percent of the Dutch group, down from the 29.8 percent stake it held at the end of the third quarter.
In October, KPN successfully fended off a bid by America Movil to buy the whole of the group, but did say the Mexican group might yet come back to the table for takeover talks.
At 0850 GMT, KPN's shares are down 4 percent at 2.56 euros, making them one of the weakest performers on the STOXX Europe 600 Telecoms Index, which trades slightly lower. Reuters messaging rm://firstname.lastname@example.org
© Thomson Reuters 2017 All rights reserved.