Mexican telecoms giant América Móvil outlined a three-year financial plan at an investor day in New York on May 27, projecting annual service revenue growth of 4-5% and EBITDA growth of 4.5-6% through 2028, while holding capital expenditure steady at around $7bn per year, according to a JP Morgan analyst note, Reuters reported.

The stable capex envelope of $21bn over three years reflects the completion of most major 5G spectrum purchases, freeing up cash flow for acquisitions, debt reduction and shareholder returns. Executives said the company was actively seeking acquisition opportunities, highlighting struggling internet providers in Brazil and telecoms operators in Eastern European markets including Serbia and Slovenia.

For Brazil and Colombia, management expressed an 'aspiration to join the club of 50' — a long-term target of achieving 50% EBITDA margins.

América Móvil is Latin America's dominant telecoms operator and the controlling shareholder of Telcel in Mexico, Claro across much of Latin America and A1 across several European markets. The investor day was closed to press and the company did not confirm the figures cited in the analyst note.

The outlook is consistent with findings from Fitch Ratings earlier this month, which described the Mexican telecoms sector as entering a more favourable credit phase as operators shift from intensive capital expenditure toward monetising existing networks and improving free cash flow.

 

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