Fitch: America Movil acquisition a boon for KPN

Fitch Ratings said that if America Movil SAB de CV's (A/stable) acquisition of Royal KPN NV (BBB-/stable) completes, it will be positive for KPN's credit profile and KPN's ratings are likely to be upgraded by multiple notches.

However, Fitch noted that there are a number of uncertainties surrounding the transaction and it will wait to see how these get resolved before taking any rating action.

Fitch said that America Movil's current proposal is only an intention to make an offer, adding that the KPN board has not yet indicated whether or not it supports the suggested offer.

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