America Movil says ready to launch 5G in Mexico; plans to sell Tracfone this year


Source: Reuters

Mexican telecommunications company America Movil said on Wednesday it was “ready” to launch a 5G market in Mexico and it expects to close a deal to sell its TracFone unit by year-end.

Verizon (VZ.N) said last year it would buy prepaid mobile phone provider TracFone, a unit of America Movil that serves about 21 million customers, in a more than $6 billion acquisition. The attorneys general of 16 U.S. states and the District of Columbia urged the FCC to thoroughly investigate the deal.


Telefonica teams up with AT&T in Mexico in new bid to take fight to Slim

cell phones 2

11/21/19 – Reuters

By Julia Love

Spanish telecoms giant Telefonica has struck a deal to use some of U.S. rival AT&T’s infrastructure in Mexico, a move analysts said would better position both to compete with the market’s juggernaut, billionaire Carlos Slim’s America Movil.

Under the agreement announced on Thursday, Telefonica will use AT&T’s wireless ‘last-mile’ equipment – the final link of telecom networks that delivers service to consumers through towers, antennas and fiber-optic cables.

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America Movil to launch new U.S. unit for business clients

06/05/2018 Reuters

carlos slim

Mexican telecommunications company America Movil, controlled by the family of Mexican billionaire Carlos Slim, is launching a U.S.-based unit that will offer information technology and communications to business customers, according to a source and a document on the company’s website.

America Movil is rolling out Claro Enterprise Solutions and will integrate its existing Telmex USA subsidiary into Claro, according to the Telmex USA website.


Based in Florida, the new company will serve a range of businesses “from small companies to large multinationals,” the document says. The company plans to “rapidly expand its product portfolio” and will have locations across the United States, according to the document.

Mexico’s America Movil eyes acquisition of Brazilian rival Oi: Valor

09/21/16 Reuters

America Movil SAB (AMXL.MX) is interested in acquiring some or all of the operations run by struggling Brazilian rival Oi SA (OIBR3.SA), the chief executive of the Mexican telecom giant said in a newspaper interview published on Wednesday.

Brazilian paper Valor Economico reported that Daniel Hajj, CEO of Mexican billionaire Carlos Slim’s telecom empire, said he was eyeing an acquisition of Oi operations whether or not the company is split up in the midst of an in-court restructuring.

“We are open to looking at anything,” Hajj said in the Valor report. “I am very interested in participating in the (market)consolidation in Brazil, but I don’t know how it will happen.”

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Slim companies spend over $200 million on America Movil stock

3/16/16  Reuters

Mexican billionaire Carlos Slim’s bank and his holding company spent over $200 million between November and late February to buy nearly 350 million shares in Slim’s America Movil, according to a U.S. regulatory filing released on Tuesday.

Inversora Carso, a Slim investment vehicle, bought 348.9 million L-type shares in Slim’s telecoms giant America Movil between November and Feb. 26, spending $209.22 million, according to the document released by the U.S. Securities and Exchange Commission.

Grupo Financiero Inbursa, the financial arm of Slim’s empire, bought 50,084 L-type shares for $35,583, the SEC said.

Slim is one of the richest men in the world, controlling a global banking, telecoms, mining and retail empire.

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Mexico to raise $2.5 billion in spectrum auction – regulator

2/18/16 Reuters 

carlos slim
Carlos Slim

Feb 18 Mexico’s telecoms regulator on Thursday said it will raise about 45 billion pesos ($2.5 billion) over the next 15 years after an auction of wireless spectrum.

The auction will allow the two participating companies, Carlos Slim’s America Movil and new rival AT&T Inc to deploy new mobile services and improve quality, the Federal Telecommunications Institute (IFT) said.

Final results of the auction, showing the size and amount of each company’s winning bid, will be shared within 10 business days, IFT said in a statement.

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

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

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

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.”

Watch here…

Slim Enriches Himself With Breakup He Resisted: Corporate Mexico

09/30/14 Bloomberg


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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