Carlos Slim's America Movil in bid for KPN stake

America Movil, which is owned by the world's richest man Carlos Slim, has offered 7.2bn euros ($9.6bn; £6.2bn) for the 70% of Dutch telecoms company KPN it does not already own.

The bid is widely seen as a challenge to last month's offer from Telefonica for KPN's German arm E-Plus.

E-Plus has a 15% stake in the German mobile market. The bid for it was backed by KPN's management.

Movil's 2.40 euros-a-share offer is 20% above Thursday's closing share price.

It is much lower than the 8 euros per share that Mr Slim paid in May last year for his original stake.

But it is considerably higher than the 1.60 euros at which the shares were trading in July before Telefonica announced its bid.

A KPN spokesman said the company was studying America Movil's offer.