Mexican telecoms group America Movil has announced that it has acquired a stake of over 33% in fixed-line operator Telmex.
In a statement announcing the final results of its tender offer for shares in Telmex, America Movil said that 1.8bn of Telmex’s…
Mexican telecoms group America Movil has announced that it has acquired a stake of over 33% in fixed-line operator Telmex.
In a statement announcing the final results of its tender offer for shares in Telmex, America Movil said that 1.8bn of Telmex’s “AA” shares, 57m of its “A” shares and 4.1bn of its “L” shares had been tendered.
It said that, as a result of the tender offer, it now owns 92.99% of Telmex’s outstanding shares. The company expects to pay Ps62.5bn (US$4.6bn) to tendering shareholders.
America Movil already held a 59.96% stake in Telmex through its subsidiary Carso Global Telecom.
AT&T held an 8.5% stake in Telmex. An AT&T spokesman confirmed to TelecomFinance last week that it had tendered its shares in the company for approximately US$1.2bn.
