America Movil sees approval of partial Telmex separation by year-end

07/19/2017 Reuters

The America Movil logo is seen at the reception area in the company's offices in Mexico City
 REUTERS/Henry Romero

MEXICO CITY (Reuters) – Mexican billionaire Carlos Slim’s America Movil (AMXL.MX) expects regulatory approval to separate part of its Telmex unit by the end of 2017 or early next year, its chief executive said on Wednesday.

Mexico’s Federal Telecommunications Institute (IFT) said in March that America Movil, controlled by the Slim family, must separate part of its network infrastructure into a new entity.

The move ratcheted up antitrust measures against America Movil, which has long been dominant in Mexico and is Latin America’s largest telecommunications company by number of subscribers.

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