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    AMX L   MXP001691213

AMÉRICA MÓVIL, S.A.B. DE C.V.

(AMX L)
  Report
End-of-day quote Mexican Stock Exchange  -  2022-10-04
16.60 MXN   -2.35%
02:08pLiberty Latin America, America Movil Merge Chilean Operations
MT
01:31pLiberty Latin America and América Móvil Combine Their Chilean Operations, VTR and Claro Chile, to Create a New Joint Venture
BU
10/05America Móvil B De C : Liberty Latin America and América Móvil receive approval for the joint venture between VTR and Claro Chile
PU
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Mexico's Inbursa has 'significant advantage' in Citibanamex bid -BofA analysts

08/04/2022 | 04:16pm EDT

(Reuters) - Mexican bank Inbursa is now in pole position to buy Citigroup's Mexican unit, Bank of America (BofA) analysts said in a research note, a potential boost to the telecoms-to-retail empire of Inbursa's billionaire owner.

Analysts said Inbursa's bid for Citibanamex, as Citi's Mexican unit is known, now looked more attractive than rival Banorte for three reasons: its higher share price, a lower risk of cost cuts, and likely backing from the Mexican government.

"Inbursa now trades at a 35% premium to Banorte ... [giving it] a significant advantage if it were to issue shares to finance a transaction," the analysts said in the note, dated Aug. 2.

Inbursa, which is owned by billionaire Carlos Slim, last week reiterated its continued interest in buying Banamex, saying it was looking for partners to join its offer.

Inbursa would become the second-largest lender in Mexico after the local unit of Spain's BBVA if it won the bid, the analysts noted, leaving Banorte in fourth place.

"Don't underestimate Slim's interest in Banamex," they wrote. Slim controls America Movil, Mexico's largest mobile phone operator, in addition to industrial, retail and property interests.

The same analysts had previously tipped Banorte as the leading candidate.

Citigroup announced its plan to sell its Mexican consumer banking unit earlier this year.

Billionaire Ricardo Salinas Pliego and Spanish bank Santander were among the early bidders, but have since both exited the process.

According to recent media reports, Citi is now seeking at least $7 billion for the unit, while BofA analysts cited rumors that it could be looking for up to $12 billion.

In June, Reuters reported that Banorte had hired the investment banking unit of Bank of America to advise on the Citibanamex bid, citing sources.

(Reporting by Isabel Woodford; Editing by Daniel Wallis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AMÉRICA MÓVIL, S.A.B. DE C.V. -2.35% 16.6 End-of-day quote.-23.47%
BANCO SANTANDER, S.A. -0.99% 2.55 Delayed Quote.-12.41%
BANK OF AMERICA CORPORATION -1.44% 31.46 Delayed Quote.-27.22%
BBVA -0.43% 4.7995 Delayed Quote.-8.19%
CITIGROUP INC. -1.78% 43.06 Delayed Quote.-27.41%
GRUPO FINANCIERO BANORTE, S.A.B. DE C.V. 0.69% 133.34 End-of-day quote.0.24%
GRUPO FINANCIERO INBURSA, S.A.B. DE C.V. -1.80% 33.91 End-of-day quote.38.30%
All news about AMÉRICA MÓVIL, S.A.B. DE C.V.
02:08pLiberty Latin America, America Movil Merge Chilean Operations
MT
01:31pLiberty Latin America and América Móvil Combine Their Chilean Operations, VTR and Claro..
BU
10/05America Móvil B De C : Liberty Latin America and América Móvil receive approval for the jo..
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10/05America Móvil B De C : “Liberty Latin America and América Móvil receive approval for..
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09/29America Móvil B De C : América Móvil informs about the listing of Sitios Latinoamérica, S...
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09/29América Móvil, S.A.B. de C.V. Announces Redemption of Notes
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09/29América Móvil Spinoff Sitios Latinoamérica Shares Fall in Market Debut
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09/29America Móvil B De C : América Móvil Announces Redemption of Notes - Form 6-K
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09/29AMÉRICA MÓVIL, S.A.B. DE C.V. : Spin off
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More news
Analyst Recommendations on AMÉRICA MÓVIL, S.A.B. DE C.V.
More recommendations
Financials
Sales 2022 870 B 43 391 M 43 391 M
Net income 2022 89 492 M 4 463 M 4 463 M
Net Debt 2022 467 B 23 313 M 23 313 M
P/E ratio 2022 11,3x
Yield 2022 3,80%
Capitalization 1 052 B 52 458 M 52 458 M
EV / Sales 2022 1,75x
EV / Sales 2023 1,67x
Nbr of Employees 179 942
Free-Float 45,3%
Chart AMÉRICA MÓVIL, S.A.B. DE C.V.
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América Móvil, S.A.B. de C.V. Technical Analysis Chart | MarketScreener
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Technical analysis trends AMÉRICA MÓVIL, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 16,47 MXN
Average target price 21,42 MXN
Spread / Average Target 30,1%
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
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