Telefónica’s E-Plus deal in the air after Slim’s KPN bid

Mexican magnate Carlos Slim’s América Móvil telecoms operator on Friday tabled a full takeover bid for KPN in a move that could scupper Spanish telecoms giant Telefónica’s agreed deal to acquire the Dutch company’s German unit E-Plus.

América Móvil is keeping its cards hidden about whether it will sanction the sale of E-Plus to Telefónica, its major rival in Latin America, for 8.1 billion euros in cash and shares. Slim’s company is offering to buy the 70-percent stake in KPN for 7.2 billion euros, a 20 percent premium to its closing market value on Thursday.

The news emerged as the Spanish blue-chip Ibex 35 index closed above 8,735 points, its highest level in 18 months.