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

Brazil Mobile Phone Firm Claro First to Deliver Spending Plans

--Brazilian mobile telephone firm Claro first to deliver investment plan to regulator --Regulator has banned three firms from selling new lines pending assurances on investments --Regulator criticized poor quality of service among all four of Brazil's main operators --Shares in TIM, Telefonica Brasil plunge after Anatel decision By Matthew Cowley SAO PAULO--Brazilian mobile phone operator Claro on Thursday said it has delivered an investment plan to the government just one day after being banned from selling new lines in Brazil's wealthiest and most populous state for poor quality of service. Claro, a unit of Mexico's America Movil SA (AMX, AMOV, AMX.MX), is investing 3.5 billion Brazilian reais this year, the company said in a statement. It didn't provide details for subsequent years. On Wednesday, Brazil's telecom regulator, Anatel, banned Claro and two other phone companies, Oi SA (OIBR, OIBRC, OIBR4.BR) and TIM Participacoes SA (TIMP3.BR, TSU), a unit of Telecom Italia SpA (TIT.MI, TI, TIA), from selling new mobile phone lines until they get sufficient assurances on investments to improve quality of service. TIM won't be allowed to sell new mobile phones in 19 states, Oi in five states and Claro in three states, Anatel said. Significantly, Claro won't be allowed to sell phones in Brazil's wealthiest and most populous state, Sao Paulo, while TIM won't be allowed to sell lines in Rio de Janeiro state. In a statement, TIM said it was "fairly surprised" by the regulator's decision, and the "extreme measure" was "disproportionate" and anti-competitive. It said it has invested close to 3 billion Brazilian reais per year over the last four years to increase capacity and extend its network coverage. Swiss investment bank Credit Suisse on Thursday cut its recommendation on TIM's shares to underperform from neutral, and suggested switching into the shares of rival operator Telefonica Brasil SA (VIV, VIVT.BR), which wasn't affected by the government ban on sales. "TIM is the company most directly affected by the ruling," Credit Suisse said in a note. "We downgrade the shares from neutral to underperform and recommend shifting exposure from TIM [Participacoes] to Telefonica Brasil (Vivo). Vivo was the only one of the four major operators not subject to sales bans in any regions." Shares in some telecoms firms were among the worst performers in Sao Paulo on Thursday. TIM shares traded in Sao Paulo were down 9%, while the Ibovespa index was up 1.3%. Shares in Telefonica--which must also submit an investment plan but didn't face any ban on sales--were down 2%. Shares in Oi were up 4.5%. Credit Suisse said Wednesday's 4% loss by Oi was "likely overdone, as the impact of Anatel's ruling on Oi is limited to a small portion of its operations." In a statement late Thursday, Oi said that the data used by Anatel appeared to be out of date, and didn't take into account "the concentration of investments carried out in the last 12 months." Claro isn't traded locally. New York-traded shares in America Movil were down 1.4%. Growth rates in Brazilian mobile were already on a declining trend based on market saturation, rejuvenated competition from Oi, lower mobile termination rates, and weak economic growth, Credit Suisse said. "The temporary prohibition on sales of new lines and increased regulatory scrutiny of quality are likely to create more challenges to grow, especially for TIM," it said. Write to Matthew Cowley at matthew.cowley@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for America Movil (AMX)
DateTimeHeadline
08/21/201407:32:00Brazilian Court Gives Green Light to Airwaves Auction Process
08/19/201408:25:49Telecommunication-Tower Operator T4U Plans IPO in Brazil
07/21/201418:03:34ADR Shares End Mixed; Philips Shares Trade Actively
07/14/201419:30:42America Movil Secures Majority Stake in Telekom Austria
07/09/201417:30:46ADR Shares End Higher; America Movil, Teva Shares Trade Actively
06/30/201417:04:08ADR Shares End Mixed; Philips, America Movil Trade Actively
06/27/201418:49:40Slim to Buy Back America Movil Stake from AT&T
06/27/201418:48:41Carlos Slim to Buy Back 8.3% America Movil Stake from AT&T
06/17/201406:22:21Telekom Austria's New Ownership Structure Approved by Regulator
06/11/201418:22:03Ecuador to Begin 4G Mobile Spectrum Talks With Private Operators
05/19/201410:47:33America Movil Shares Fall Sharply as AT&T to Sell Stake
05/15/201408:39:20America Movil Publishes Takeover Offer for Telekom Austria
05/13/201413:41:03Argentina Plans to Auction 4G, 3G Wireless Licenses
04/25/201407:17:59KPN Net Profit Down 98% -- Update
04/24/201407:55:12Brazilian Mobile Subscribers Up in March; Vivo and Tim Gain Share
04/23/201419:00:12America Movil to Make Bid for Telekom Austria -- Update
04/23/201418:10:30America Movil to Make Bid for Telekom Austria
04/23/201412:24:36Social Media Protests in Mexico Shape Telecom Bill
04/16/201417:10:07American Express Profit Rises on Higher Revenue
04/16/201416:40:51American Express Quarterly Profit Rises on Higher Revenue

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 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad