Dow Jones Newswires said that Telekom Austria Group is set to “discuss possible synergies” with Netherlands-based group KPN, now that both companies have a common shareholder in the shape of America Movil.

According to comments attributed to Hannes Ametsreiter, CEO of Telekom Austria, talks have already taken place with America Movil, and an update on “some areas” of the discussion may be made at an investor event in December.

America Movil has built up a nearly-28 percent stake in KPN, despite opposition from the Dutch company, which argued that the offer undervalued it. In the meantime, KPN has looked to unlock shareholder value through the sale of both its German (E-Plus) and Belgian (Base) mobile businesses, but in both cases it was unable to achieve a satisfactory price.

KPN said subsequently it would “continue a constructive dialogue” with America Movil, in order to find areas that are “viable, value accretive, in line with our strategy and in the interests of all shareholders and other stakeholders”.

The Latin American giant has also struck a deal which, subject to approvals, would give it a 23 percent stake in Telekom Austria, and position it as a “long-term strategic partner” to the Central European group.