America Movil CEO Daniel Hajj has said the telco will not be changing its strategy in the US after AT&T sold its stake in the Mexican giant.
On America Movil’s Q2 results call, Hajj said the company was happy how Tracfone, its MVNO unit in the US, was…
America Movil CEO Daniel Hajj has said the telco will not be changing its strategy in the US after AT&T sold its stake in the Mexican giant.
On America Movil’s Q2 results call, Hajj said the company was happy how Tracfone, its MVNO unit in the US, was performing and that AT&T’s exit would not mean its strategy would change.
Hajj added that America Movil would continue to grow its US subscriber base and wanted five million more customers to take it to 30 million.
He also commented on the company’s plan to separate its estimated 28,000 towers as part of its break-up plan to comply with Mexico’s new stricter telecoms regulations.
Hajj said that America Movil had decided a spinoff of the tower assets into a new entity created the best value for shareholders. However, the operator has not decided whether it would list the new towerco.
Earlier this month, America Movil decided to offload some assets from Telmex and Telcel to lower its market shares in Mexico’s fixed and mobile industries below 50%.
Hajj said that the telco did not have a buyer lined up but had some ideas about which companies might be interested, although it was not talking to them yet.
America Movil’s Q2 results were below expectations due to the asymmetrical regulations it is being subjected to, which stops it charging for national roaming and slashes what it can charge competitors to use its network.
