Mexican billionaire Carlos Slim boosted the pressure on KPN shareholders by purchasing additional stock of the Dutch telecommunications corporation at a lower price than his present tender bid for almost 27.7% of the company.
Mobile phone company America Movil SAB de CV (ADR) (NYSE:AMX) reported on Monday that it made 4 separate transactions to acquire a collective 6 million ordinary shares of KPN, bringing its holding in the Dutch company to 7.3%.
The corporation reported in a statement that all these purchases were entered into a price in cash of 7.8 euros a ordinary share. Shares of KPN ended on Monday at 7.769 euros.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Telefonica S.A. (ADR) (NYSE:TEF) increased +2.50% to settle at $12.31, Telecom Argentina S.A. (ADR) (NYSE:TEO) moved down -4.00% to end at $11.04 while NII Holdings, Inc (NASDAQ:NIHD) jumped +3.37% to finish on Tuesday at $11.35.
America Movil SAB de CV (ADR) (NYSE:AMX) began the last trading session with a price of $23.50 and throughout the session climbed at a high of $24.24 but when day-trade ended the stock finally advanced +3.22% to $24.23.
AMX had a trade volume of 8.60 million shares was slightly higher as compared to average trading capacity of 8.19 million shares.
The stock is ahead its 52 week low with +17.93% and lagging behind from its 52 week high price with -14.89%. AMX last month stock price volatility remained 2.36%. In its share capital AMX has 3.81 billion outstanding shares among them 2.41 billion shares have been floated in market exchange. AMX stock institutional ownership remained 27.16%.
Shares price of AMX moved down from its 20 days moving average with +1.77% and remote negatively from 50 days moving average with -1.43%. AMX current year earnings per share experienced a downfall of -8.59% while its current quarter performance remained +1.08%. Company’s beta coefficient included 1.25. Beta factors measures the amount of market risk associated with market trade.
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