America Movil Won't Proceed With KPN Offer; Shares Surge - Presented by: The Aol. On Network

MEXICO CITY (Reuters) - America Movil, Latin America's biggest phone company, said on Wednesday it would not proceed with a plan to boost its stake in KPN after the Dutch telecom's foundation blocked the Mexican company's bid. America Movil's shares soared more than 6 percent on the news.

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