Carlos Slim was rumoured to have opposed the offer for KPN's German arm
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.
But it is much lower than the 8 euros per share that Mr Slim paid in May last year for his original stake.
A KPN spokesman said the company was studying America Movil's offer.
KPN's shares have been falling sharply in recent years as the introduction of smartphones has eaten into its margins in the Netherlands, where it has a 40% share of the market.
The company has taken on a lot of debt as a result of paying more than expected to the Dutch government in an auction of fourth generation mobile phone licences.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23628664#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
