Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Mexico
  4. Mexican Stock Exchange
  5. América Móvil, S.A.B. de C.V.
  6. News
  7. Summary
    AMX L   MXP001691213

AMÉRICA MÓVIL, S.A.B. DE C.V.

(AMX L)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

America Móvil B de C : Movil wins shareholder approval for towers spin-off

09/29/2021 | 07:56pm EST

MEXICO CITY, Sept 29 (Reuters) - Shareholders approved a plan of America Movil, controlled by the family of billionaire Carlos Slim, to spin off its towers business in Latin America, Mexico's biggest telecoms company said on Wednesday.

In an extraordinary general meeting, they overwhelmingly approved the spin-off, which will create a new company called Sitio Latinoamerica, America Movil said in a statement to the Mexican stock exchange.

Upon completion, Sitio Latinoamerica will own 36,000 telecommunications towers in Argentina, Brazil, Chile, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Dominican Republic and Uruguay, the company said.

America Movil will contribute to Sitio Latinoamerica a portion of its share capital consisting mainly of shares it owns in subsidiary companies that own towers and other associated infrastructure.

The company previously said it expected to complete the reorganization this year.

Earlier on Wednesday, America Movil and Liberty Latin America announced they would combine Chilean operations to form a joint venture https://www.reuters.com/article/mexico-americamovil-liberty/america-movil-liberty-latin-america-plan-joint-venture-markets-cheer-idUSKBN2GP1LH in a move aimed at expanding fixed fiber operations and speeding up the launch of 5G services.

The transaction combines the complementary operations of Claro Chile, the Chilean subsidiary of America Movil, and VTR, Liberty Latin America's provider of high-speed products like broadband and Pay TV.

The joint venture, which was expected to generate estimated run-rate synergies of more than $180 million, excludes all telecommunication towers owned indirectly by America Movil in Chile. (Reporting by Cassandra Garrison; Editing by Christopher Cushing and Muralikumar Anantharaman)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMÉRICA MÓVIL, S.A.B. DE C.V. -0.31% 19.41 End-of-day quote.33.95%
LIBERTY LATIN AMERICA LTD. -0.79% 11.34 Delayed Quote.-0.27%
All news about AMÉRICA MÓVIL, S.A.B. DE C.V.
11/26Am?rica M?vil, S.A.B. De C.V. Announces Notice of Redemption to Holders of 3.125% Senio..
CI
11/24Verizon Communications Files Automatic Shelf Filing For Potential Common Share Sale By ..
MT
11/23Am?rica M?vil, S.A.B. de C.V. Announces Notice of Redemption to Holders of 4.75% Senior..
CI
11/23Communications services Down On Rotation Out Of Growth Sectors -- Communications Servic..
DJ
11/23Verizon Communications Closes TracFone Acquisition, Shares Rise
MT
11/23AMERICA MÓVIL B DE C : América Móvil completes sale of Tracfone to Verizon
PU
11/23Am?rica M?vil, S.A.B. De C.V. Announces Board Appointments
CI
11/22AMERICA MÓVIL B DE C : América Móvil increases buyback fund and appoints new board members
PU
11/22U.S. FCC approves Verizon acquisition of TracFone Wireless
RE
11/19U.S. FCC chair circulates order to approve Verizon TracFone deal
RE
More news
Analyst Recommendations on AMÉRICA MÓVIL, S.A.B. DE C.V.
More recommendations
Financials
Sales 2021 1 015 B 47 747 M 47 747 M
Net income 2021 88 522 M 4 163 M 4 163 M
Net Debt 2021 556 B 26 152 M 26 152 M
P/E ratio 2021 14,7x
Yield 2021 3,04%
Capitalization 1 259 B 58 783 M 59 229 M
EV / Sales 2021 1,79x
EV / Sales 2022 1,79x
Nbr of Employees 182 858
Free-Float 47,3%
Chart AMÉRICA MÓVIL, S.A.B. DE C.V.
Duration : Period :
América Móvil, S.A.B. de C.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMÉRICA MÓVIL, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 19,41 MXN
Average target price 20,42 MXN
Spread / Average Target 5,18%
EPS Revisions
Managers and Directors
Daniel Hajj Aboumrad Chief Executive Officer & Director
Carlos José García Moreno Elizondo Chief Financial Officer
Carlos Slim Domit Chairman
David Antonio Ibarra Muñoz Independent Director
Pablo Roberto González Guajardo Independent Director
Sector and Competitors
1st jan.Capi. (M$)
AMÉRICA MÓVIL, S.A.B. DE C.V.33.95%58 783
AT&T INC.-18.43%167 528
T-MOBILE US-18.16%140 856
SOFTBANK GROUP CORP.-31.01%84 250
KDDI CORPORATION7.44%65 304
VODAFONE GROUP PLC-8.73%39 812