America Movil is preparing to acquire a 3.2% stake in the telco Telmex Internacional (Telint).
America Movil, which is controlled by the telecoms magnate Carlos Slim, acquired a 92.7% stake in Telint in July 2010.
In a statement to the Mexican stock…
America Movil is preparing to acquire a 3.2% stake in the telco Telmex Internacional (Telint).
America Movil, which is controlled by the telecoms magnate Carlos Slim, acquired a 92.7% stake in Telint in July 2010.
In a statement to the Mexican stock exchange filed on 4 February, America Movil states that it is planning to offer to buy almost 571.4 million shares in Telint. This represents a stake of approximately 3.2% in Telint.
America Movil said it would offer Ps11.66 (US$0.97) a share, making a total of over Ps6.6bn (US$548m) for all the shares in question.
America Movil also released its Q4 2010 results on 8 February.
Its net income was Ps24.2bn (US$2bn), down 4.7% from the same period in 2009. EBITDA for the quarter was Ps61.2bn (US$5.1bn), up 4.8% on the same period in 2009.
In its report, America Movil said that the net profit would have been Ps3.9bn (US$324m) higher if it were not for extraordinary depreciation charges and the booking of a tax credit of Ps5bn (US$416m) in Brazil, which was the final instalment of a series adjustments started in 2008.
America Movil said that the depreciation charges rose from 14.3% of revenues in Q3 2010 to 16.5% in Q4. The rise was mainly concentrated in Brazil and Colombia and was due to measures it had used to reflect the impact that the rate of technological innovation had on telecoms equipment and the need to phase out older technology.
America Movil also said that it had added 8.2 million wireless subscribers during the quarter. The largest number of these was in Brazil, where 2.9 million wireless subscribers joined up.
