AT&T’s Mexico deal a cheap foothold outside saturated U.S. market

November 12, 2014

11/11/14 Reuters

cell-phone-imgaeAT&T’s $1.7 billion agreement to buy Iusacell, Mexico’s No. 3 cellular operator, puts it in the unfamiliar position of market underdog, owning an asset that may require billions in investment to catch up to the market’s two larger players. But analysts and investors say the deal could be a cheap way to get a foothold in Latin America’s second-largest economy and learn the market’s contours before plotting more ambitious acquisitions.To be sure, extending AT&T’s high-speed service across the border will require significant investment in Iusacell’s patchy network, marketing and new retail stores. That growth will put AT&T in direct competition with former ally Carlos Slim’s America Movil, whose shares have fallen some 3 percent since news of the deal.

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Mexico’s telecoms market seeks new signal

October 16, 2014

10/15/14 Financial Times

carlos slim

Mexico’s telecoms sector, for so long largely the preserve of Carlos Slim’s América Móvil, is in flux. Both Mr Slim and Ricardo Salinas, who bought out television powerhouse Televisa’s share in Iusacell, the country’s third-biggest mobile operator, are looking for new investment. Spain’s Telefónica, the second-biggest mobile company in Mexico with about a 20 per cent market share, hopes the merry-go-round will help it boost its muscle in a country where revenues lag most of its businesses elsewhere in Latin America. The shake-out is the result of tough new telecoms regulations intended to end América Móvil’s stranglehold on the sector. Mr Slim’s fixed-line Telmex service has 80 per cent market share while his mobile business Telcel has 70 per cent.

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Slim Says America Movil May Divest on Mexico West Coast

October 8, 2014

10/07/14 Bloomberg TV

carlos slimCarlos Slim, the billionaire chairman emeritus of America Movil SAB, and Anthony Kennedy Shriver, founder of Best Buddies International Inc., talk about their global campaign to highlight the benefits of hiring workers with intellectual and developmental disabilities. Slim also discusses business in Mexico, the outlook for American Movil and his partnership with Facebook Inc. Chief Executive Officer Mark Zuckerberg. They speak with Betty Liu on Bloomberg Television’s “In the Loop.”

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Carlos Slim Pledges to Hire Workers With Disabilities

October 7, 2014

10/06/14 Bloomberg

carlos slim

Carlos Slim, the Mexican telecommunications billionaire who ranks as the world’s second-richest person, is pledging to hire workers with disabilities and asking others to join him. Slim and Anthony Kennedy Shriver, who founded the Best Buddies nonprofit organization to advocate for people with intellectual and developmental disabilities, are introducing a global campaign today that seeks to highlight the benefits of hiring workers with conditions such as Down syndrome and cerebral palsy. Celebrities including actress Cheryl Hines and former Olympic track and field athlete Carl Lewis have already signed the pledge.

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Slim Enriches Himself With Breakup He Resisted: Corporate Mexico

October 1, 2014

09/30/14 Bloomberg

carlos-slim

Carlos Slim, the billionaire who successfully protected a telecommunications monopoly in Mexico for more than two decades, scored one of his biggest financial windfalls by finally giving into the government. Shares of Slim’s America Movil SAB (AMXL) have soared 24 percent this quarter, the biggest gain in five years, as the company said in July it would sell assets worth about $17.5 billion amid a push by lawmakers and regulators to force competition on the country’s dominant phone companies and broadcasters. The stock’s advance was almost four times the average for emerging-market telecommunications companies, data compiled by Bloomberg show.

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Carlos Slim Mimics Zara to Spruce Up Sears in Mexico

September 25, 2014

09/24/14 Bloomberg

people waiting - out of focusCarlos Slim, following the lead of fellow billionaire Amancio Ortega, is freshening up his Sears outlets in Mexico with an of-the-moment sense of style in a bid to boost profits. The retailer is joining the ranks of Ortega’s fashion empire Zara by introducing new brands that quickly convert the latest runway styles of clothes and accessories into cheaper, mass-distributed goods. It’s a change of pace for Sears, which opened its first store in Mexico City in 1947 and whose 82 Mexican locations are now owned by Slim’s Grupo Sanborns SAB.

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Billionaires Increase Bet on Cement as Building Recovers

September 24, 2014

09/23/14 Bloomberg 

construction-workersBillionaires Carlos Slim and Antonio del Valle are doubling down on the Mexican cement industry, wagering a demographic boom and government subsidies will sustain a homebuilding recovery after last year’s collapse. Elementia SAB, the Mexican cement maker backed by Slim and del Valle, agreed Sept. 19 to pay Lafarge SA (LG) $225 million for the 47 percent stake of cement maker Cementos Fortaleza it didn’t already own. Hours later, Mexico City-based Elementia disclosed plans for an initial public offering, which will be used to fund expansion projects, according to a prospectus on the Mexican stock exchange’s website.

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