'América Móvil informs to the market'
Mexico City, May 7, 2021. América Móvil, S.A.B. de C.V. ('AMX') [BMV: AMX] [NYSE: AMX | AMOV], informs that today a Tribunal from the International Center for Settlement of Investment Disputes ('ICSID') issued an award in the arbitration proceeding initiated in August 2016 against the Republic of Colombia ('Colombia') pursuant to the Free Trade Agreement between Mexico and Colombia ('FTA').
The ICSID Tribunal held that certain measures adopted by Colombia in relation with the concessions terminated in 2013 by Comunicación Celular, S.A. ('COMCEL'), subsidiary of AMX, did not represent an expropriation of AMX's investments in COMCEL in violation of the FTA, and ordered AMX to pay approximately U$2.2 million corresponding to costs of the arbitration proceeding.
AMX is currently analyzing the available legal actions against the award, including the potential request of its annulment before the U.S. District Court of the District of Columbia (seat of the arbitration).
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.
América Móvil SAB de CV published this content on 10 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 09:27:10 UTC.