"América Móvil to acquire Start Wireless Group"
Mexico City, Mexico, May 20, 2013 -- América Móvil, S.A.B. de C.V. ("AMX") (BMV: AMX; NYSE: AMX; NASDAQ: AMOV; LATIBEX: XAMXL), announced that its subsidiary Tracfone Wireless, Inc., has entered into an agreement to acquire substantially all of the assets of Star Wireless Group, Inc., a mobile virtual network operator (MVNO) in the United States, that provides services to approximately 1.4 million customers and offers, among others, prepaid plans for voice, messaging and data.
The completion of the transaction is subject to certain regulatory approvals and conditions customary in this type of transactions and is expected to occur during the second quarter of 2013.
AMX is the leading provider of wireless services in Latin America. As of March 31, 2013, it had 262.9 million wireless subscribers and 65.3 million fixed revenue generating units in the Americas.
This press release contains certain forward-looking statements that reflect the current views and/or expectations of AMX and its management with respect to its performance, business and future events. We use words such as "believe," "anticipate," "plan," "expect," "intend," "target," "estimate," "project," "predict," "forecast," "guideline," "should" and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. AMX is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.