The Board of América Móvil, S.A.B. de C.V. (BMV:AMX L) approved a plan to spin-off telecommunications towers and other related passive infrastructure on February 9, 2021. The split-off company will be called Sitios Latinoamérica, S.A.B. de C.V.. As a result of the Transaction, holders of América Móvil shares will initially receive the same number of shares in Sitios Latinoamérica for each share they hold in América Móvil.

The resulting entities will be independent from AMX, with their own management and personnel. The shares of Sitios Latinoamérica will be registered in the National Securities Registry and listed on the Mexican Stock Exchange. The execution of the reorganization plan will comply with applicable requirements under the laws of each jurisdiction, and will be subject to obtaining required approvals, including the approval by the shareholders' meetings of AMX.

As of September 29, 2021. shareholders of América Móvil, S.A.B. de C.V., approved the transaction. AMX expects to implement the reorganization during 2021.

In March 2022, América Móvil, S.A.B. de C.V. obtained two financings that will be transferred to Sitios Latinoamérica One of them is a bank loan in the amount of MXN 20.6 billion with a five-year maturity. The other one is a ten-year bond issue in the amount of one billion dollars, with a 5.375% coupon.. Transaction is expected to take place by the third quarter of 2022.