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

TeliaSonera Prepares To Sell Spain's Yoigo - Sources

By Jessica Hodgson Swedish telecommunications firm TeliaSonera AB (TLSN.SK) has begun a process to sell its controlling stake in Spanish mobile phone unit Yoigo, people familiar with the matter said, as it seeks to shed non-core assets and as telecoms mergers heat up across Europe. TeliaSonera has hired Deutsche Bank AG (DB) to advise it on the sale of Yoigo, Spain's fourth mobile network by market share, the people said. A spokesman for TeliaSonera declined to comment on the process but a person familiar with the matter said Yoigo was a non-core business which Teliasonera would be willing to sell if a good opportunity arose. Deutsche Bank declined to comment. Another person said that a number of Europe's largest telecom operators would likely look at the asset, including Vodafone Group PLC (VOD) and France Telecom S.A. (FTE), the second and third-largest operators in the Spanish market respectively, who could buy Yoigo in order bulk up their own market share and to remove a competitor. Telefonica S.A. (TEF), the largest mobile operator in Spain, is unlikely to be interested in bidding due in part to its large debt, that person said. Yoigo has a share of approximately 6% of the Spanish mobile telecom market, significantly below that of its nearest competitor France Telecom, which has a share of well over 20%. Low-cost operator Yoigo launched its service in 2006 and has benefited from the downturn in the Spanish economy as consumers seek cheap mobile connectivity. Spanish mobile phone operators have suffered from a customer exodus in recent months amid a fierce austerity program, the Spanish telecom watchdog said in June. But although Yoigo recently has recorded strong revenue growth, it is a low-margin business with low average revenues per user. European telecom companies are reassessing their asset portfolios as they look for a mix that will allow them to maintain profitability as growth across the region flatlines. TeliaSonera, in particular, is looking to exit non-core markets. This broader process has been given a new urgency by the arrival in Europe of Mexican billionaire Carlos Slim, whose America Movil SAB (AMX) now owns just under one third of Netherlands-based Royal KPN NV (KPN) and is seeking to use it as a beach-head to expand across Europe. Although he is active in the region -- he also now has a minority stake in Telekom Austria (TKAGY) -- one person familiar with the Yoigo auction said it was unlikely Mr. Slim would participate. -Write to Jessica Hodgson at (Christopher Bjork in Madrid and Gustav Sandstrom in Sweden contributed to this article.)

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