Slim in bid to snap up Dutch stake

Carlos Slim, the world's richest man, yesterday offered €3.2bn (£2.6bn) for a stake in Dutch telecoms firm KPN as his América Móvil group looks to expand in Europe.

América Móvil, which is controlled by Slim from his native Mexico, wants to buy up to 28 per cent of KPN because it is running out of opportunities in its traditional heartland of Latin America, where it is the biggest mobiles operator.

KPN welcomed the approach, describing it as "moderately positive"

Its shares leapt more than 22 per cent, having slumped to their lowest level in seven years only days ago.