America Movil has reduced its stake in KPN to 27.1% from 29.7%, it emerged on Wednesday.
The Mexico-based telco giant did not provide an explanation; it merely disclosed the size of its holding as part of its fourth quarter financial report.
In the three months ended 31 December, America Movil added 4.8 million mobile customers, giving it a total of 339 million. Revenue increased 3.1% on-year to 204 billion pesos (US$15.3 billion), while EBITDA grew 1.4% to MXN63.5 billion.
KPN and America Movil have been rebuilding their relationship since the latter's failed takeover bid last year.
"After the withdrawal of America Movil, the relationship was not really good but today we have again a good relationship," said KPN chief Eelco Blok, in a report by the Financial Times.
He explained that a lot of the ties forged between the two companies were severed when America Movil ended the relationship agreement shortly before launching its takeover bid.
Those ties are now being re-established.
"We have agreed to start first with procurement and see how it evolves to see if we should extend the relationship to a level where we were in August last year," said Blok, in the FT report.
Meanwhile America Movil's fourth quarter report revealed that its stake in Telekom Austria remains unchanged at 23.7%.
It emerged in January that Carlos Slim's telco empire had consolidated its holding in Telekom Austria by acquiring an additional 3.14% stake from a separate Slim-owned fund.
If America Movil's ownership reaches 30% it will be required to launch a takeover bid.