Billionaire Carlos Slim is going back to the drawing board with his plan to buy up cheap European telecommunications assets, plotting his next move after Royal KPN NV executives fended off a $9.7 billion takeover.
America Movil SAB said it’s prepared to drop a 7.2 billion-euro ($9.5 billion) bid for Royal KPN NV after the Dutch phone company’s foundation used an option to buy shares to impede what it described as a hostile takeover.
Grupo Financiero Inbursa SAB, the bank controlled by billionaire Carlos Slim, is in talks to buy Standard Bank Group Ltd.’s Brazil unit for about 130 million reais ($59.3 million), two people with direct knowledge of the negotiations said.
Billionaire Carlos Slim, the world’s second-richest person, is getting about 7.3 billion pesos ($565 million) in cash as his holding company distributes the proceeds from the sale of its cigarette business.
Carlos Slim’s title as the world’s richest person is increasingly under threat as Latin American countries move to crack down on his telecommunications dominance and his European investments turn sour.