"América Móvil informs to the market"
Mexico City, July 27, 2020. América Móvil, S.A.B. de C.V. ("AMX") [BMV: AMX]
[NYSE: AMX | AMOV], informs that its Brazilian subsidiary, Claro S.A. ("Claro"), agreed to extend and amend the binding offer submitted, jointly with Telefónica Brasil S.A. ("Telefonica") and TIM S.A. ("TIM"), for the acquisition of the mobile business owned by Oi Group, in the amount of R$16,500 million. Such joint offer considers, aditionally, the possibility of entering into long term agreements for the use of infrastructure with Oi Group.
The offer was submitted by the parties, and is subject to certain conditions, including their right to make a higher bid than other offer potentially presented by a third party ("right to top") in the competitive process of Oi Group's mobile business sale.
Therefore, Claro believes that the joint offer with TIM and Telefônica is the one that best serves the interests of current customers of Oi, as it provides long-term experience in the Brazilian market, investment capacity and technical innovation to the sector as a whole; besides being in line with current regulation.
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.