ADVFN - Advanced Financial Network.
HOME» NYSE » A » AMX Stock Price » AMX Stock News

America Movil Share News

 America Movil, S.a.b. De C.v. Stock Price
AMX Stock Price
 America Movil, S.a.b. De C.v. Stock Chart
AMX Stock Chart
 America Movil, S.a.b. De C.v. Stock News
AMX Stock News
 America Movil, S.a.b. De C.v. Company Information
AMX Company Information
 America Movil, S.a.b. De C.v. Stock Trades
AMX Stock Trades

America Movil Moves Carefully into Europe with Minority Stakes--CFO

--America Movil taking minority stakes in two European phone companies --Lack of mergers-and-acquisitions options in Latin America prompts move into Europe --America Movil goes carefully as it gets to know new markets By Anthony Harrup MEXICO CITY--Mexican telecommunications company America Movil SAB (AMX, AMX.MX) is treading lightly as it pursues geographic diversification in unfamiliar European markets after exhausting options for acquisitions in Latin America, the company's chief financial officer said Friday. America Movil, controlled by billionaire Carlos Slim, said Friday it has agreed to buy 21% of Telekom Austria AG (TKA.VI) from investor Ronny Pecik, to raise its stake to about 23%. The agreement follows an offer last month to buy up to 28% of Dutch phone company Royal KPN NV (KPN.AE), of which America Movil has so far accumulated 8%. America Movil Chief Financial Officer Carlos Garcia Moreno said in a telephone interview that the rationale for entering Europe was to continue with geographic diversification, which has given America Movil scale and solid cash-flow generation, even in times of economic turmoil. The company continues to invest and expand organically in Latin America, but "if we look at mergers and acquisitions in the region, there isn't much more to do, there isn't much more to buy," Mr. Garcia Moreno said. "If we want to continue with M&A, it will have to be elsewhere." Mr. Garcia Moreno said America Movil felt comfortable taking majority and outright stakes as it expanded in Latin America, but is less familiar with the competitive dynamics and customer preferences in Europe, which is why it's doing it through minority stakes. While KPN management has opposed America Movil's $3.28 billion offer, saying it undervalues the shares, Telekom Austria's Chief Executive Hannes Ametsreiter welcomed the Mexican carrier as "a strategic and long-term investor," bringing know-how and knowledge of the industry to the European concern. America Movil is Latin America's largest wireless service provider with 246 million mobile subscribers in 18 countries. The two offers are similar in that they bring America Movil's size and experience in creating value to their smaller European counterparts, Mr. Garcia Moreno said. "This is what we're bringing to the table." The company is also determined to maintain its conservative debt ratios to preserve its credit ratings, which are among the highest in the world for the telecommunications sector, and at present isn't looking to enter other regions, the official added. Write to Anthony Harrup at

Stock News for America Movil (AMX)
05/06/201617:38:00Mexico's Top Broadcasters Forgo Airing Rio Olympics
03/30/201609:32:00TracFone® and Dress for Success® Partner for Second Year to E...
03/19/201603:02:00FCC Releases Wireless Bidder List
03/18/201618:00:00FCC Releases Bidder List for Wireless Auction
02/26/201614:10:00Mexico's Televisa Focuses 2016 Investment on Cable, Telecom
01/29/201616:10:00Mexico Launches Bidding for Shared Mobile Network
01/13/201605:57:00Brazil Mobile-Phone Subscriptions Down Again in November
12/21/201512:40:00Amé rica Mó vil Spinoff Telesites Gains in Market Debut
12/02/201517:06:00Mexican Stocks End Lower, Peso Weakens After Yellen Comments
11/10/201513:30:00Spain's Telefó nica to Challenge Mexican Regulatory Fine
10/30/201509:10:00Iliad Founder Neil Has 15% Stake in Telecom Italia
10/21/201518:35:36'Walking Dead' ratings putting pressure on AMC Networks stock
10/20/201518:18:17America Movil call: Pushing against regulations, cutting capex
10/20/201516:25:16America Movil's (AMX) CEO Daniel Hajj on Q3 2015 Results - Earnings...
10/19/201520:40:00Amé rica Mó vil Posts Loss on Weak Currencies
08/26/201518:04:00ADRs End Higher; Syngenta Declines
08/24/201516:00:00AT&T Begins Rebranding in Mexico
08/10/201517:03:39Mexico Stocks End Higher; Peso Slips vs U.S. Dollar
08/04/201509:00:00Wireless Communications Equities under Review -- America Movil...
07/16/201521:00:17America Movil Profit Down 16%

America Movil and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations