Latin American operator America Movil has bought out the shareholders of Telmex Internacional. Late last week, the former announced that it had paid a total of US$2.12bn to the shareholders of the latter, as part of magnate Carlos Slim – who owns both…
Latin American operator America Movil has bought out the shareholders of Telmex Internacional. Late last week, the former announced that it had paid a total of US$2.12bn to the shareholders of the latter, as part of magnate Carlos Slim – who owns both companies – to consolidate his telecom assets.
Shareholders who tendered their shares for cash received US$2.12bn, while shareholders who chose to exchange their shares for Telmex Internacional shares received 1.35 billion L shares.
Acquiring a total of 93.56% of Telmex Internacional, America Movil fell short of the 95% it needed for a planned delisting. The stake is enough, however, to delist Telmex Internacional from the NYSE.
