Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks.

It’s bad enough for the world’s richest man to elbow his way to the top of your shareholder register. Even worse when he then holds his tongue when you need a rescue rights issue. Happily for KPN, Carlos Slim has belatedly come round. Slim is already badly out of the money on the ailing Dutch telephone group – but coughing up another €900-million ($1.2-billion) is his least-worst option.