La Raza schreef op 25 juli 2013 11:29:
Nog iets om het mooier te maken, Slim moet komen anders is
een belangrijke Europese markt te weten Duitsland verloren.
uk.reuters.com/article/2013/07/24/uk-...
Analysis - KPN deal small salve for America Movil losses in Europe
MEXICO CITY | Thu Jul 25, 2013 12:01am BST
(Reuters) - Carlos Slim's phone giant America Movil could claw back some paper losses on its KPN stake through the sale of the Dutch company's German business to Telefonica but the move may raise fresh questions about the Mexican's long-term European plans.
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Some analysts noted that a pull back by KPN from Germany, Europe's largest mobile market, would be a strategic setback for America Movil, which needs to look outside of Latin America for growth.
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America Movil, which has not been forthcoming with information about its European plans, is likely to face further questions about this latest twist when it reports second-quarter results on Thursday.
"Sharing an investment with your main competitor, it's not entirely unusual but it is a little peculiar," said Carlos Hermosillo, analyst at Mexican bank Banorte.
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If the deal goes through, it values KPN stock between 2.45 euros and 2.90 euros, bringing America Movil somewhat closer to the average price it paid for KPN shares of around 3.24 euros, according to Sanford C. Bernstein analysts. KPN shares closed at 1.95 euros on Wednesday.
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The deal leaves America Movil with much reduced exposure to the key German market, and although it strengthens KPN, it is hard to understand the Latin American company's interest in the much smaller Belgian and Dutch mobile markets.
Left with those smaller markets, it is not clear how the E-Plus sale fits with America Movil's stated endgame in Europe of learning about the region and investing for the longer term, analysts said.
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