Mexico Billionaire Carlos Slim Tightens Grip On America Movil

Mexican billionaire Carlos Slim, who already controls America Movil, tightened his grip slightly on Latin America's biggest phone company, according to a U.S. regulatory filing on Thursday that shows two companies controlled by Slim bought more shares.

Related Videos


  • Carlos Slim Buys Back AT&T's $5.6 Billion Stake in America Movil

    Mexican billionaire Carlos Slim is buying back the stake AT&T owns in his company, America Movil. Since agreeing to acquire satellite provider DirectTV, the telecom company has become a competitor of America Movil for paid TV customers in Latin America. AT&T has been gradually reducing its holdings in America Movil in the past few years.

  • America Movil Asset Sale Should Be Across The Board: Slim

    America Movil, Latin America's biggest telecoms company, will move quickly to put an "attractive" cross-section of the company up for sale it sheds assets to escape tougher regulation of the phone and broadcasting markets in Mexico, billionaire owner Carlos Slim said. The planned sale, announced on Tuesday, would cut the company’s dominant market share in Mexico and could generate billions of dollars.

  • Slim's America Movil Asset Sale Fans Hope For Cheaper Phone Bills

    A quick sale of a block of billionaire Carlos Slim's vast telecoms empire to a foreign company may be the fastest path to lower prices, broader coverage and better service for Mexican consumers. Controlling around 70 percent of Mexico's mobile market and more than 60 percent of landlines, Slim's America Movil has been blamed for overcharging consumers for patchy service since he bought a former state-run phone monopoly in the early 1990s.

  • America Movil Aims To Sell Assets As Quickly As Possible

    America Movil spokesman Arturo Elias said on Wednesday the Mexican telecoms company plans to divest assets as quickly as possible to escape tougher regulation, and it hopes to sell to a single buyer. The company controlled by billionaire Carlos Slim announced on Tuesday that it was ready to sell assets to cut its market share in Mexican telecoms below 50 percent and escape regulations that apply only to dominant players.

  • America Movil To Own Just Over Half Of Telekom Austria

    Carlos Slim's America Movil said on Monday it will take control of just over half of Telekom Austria in a $1 billion buyout offer, giving the Mexican billionaire a base to build up his presence in European telecoms. America Movil, which already owns around 27 percent of the company, said it would acquire an additional 23.47 percent of Telekom Austria's shares.

  • America Movil Aims To Cut Mexico Market Share Below 50 Percent

    Billionaire Carlos Slim's America Movil said on Tuesday its board voted to sell off assets to cut its Mexico telecommunications market share below 50 percent in order to avoid tough new regulations designed to curb its long-held dominance of the sector. America Movil, which runs mobile, Internet and fixed-line businesses, said in a statement that its board of directors had decided to sell certain assets to a new company independent of America Movil. It did not specify the assets.

  • Is Mexican President Pena Nieto Being Unfair To Billionaire Carlos Slim?

    In the full-blown war that has erupted among Mexican telecom billionaires, the perception exists that the Mexican government of Enrique Pena Nieto is tightening the screws harder on billionaire mogul Carlos Slim Helú’s business interests than on those of fellow billionaire Emilio Azcarraga Jean.

  • Slim's Real Estate Arm To Buy AT&T's America Movil Stock

    arlos Slim's America Movil said on Friday it had authorized the Mexican tycoon's real estate firm Inmobiliaria Carso to buy more than 5.7 billion shares, formerly held by AT&T, equal to 8.27 percent of America Movil's stock. America Movil shares extended gains to 6 percent, a more than two-month high, after the announcement.

  • America Movil Could Be a Breakup Candidate According to Macquaire

    America Movil could become the next breakup candidate. America Movil's owner, Carlos Slim, will increase his interest in America Movil to over 50% by buying back the rest of the stake that AT&T holds in his company. Since his announcement, shares of the TV provider surged 5%. But for anyone who is shorting the name, Macquarie warns that might be risky right now. They believe America Movil could go private or break up.

  • America Movil Won't Proceed With KPN Offer; Shares Surge

    MEXICO CITY (Reuters) - America Movil, Latin America's biggest phone company, said on Wednesday it would not proceed with a plan to boost its stake in KPN after the Dutch telecom's foundation blocked the Mexican company's bid. America Movil's shares soared more than 6 percent on the news.

  • Carlos Slim Domit on America Movil's Growth Strategy

    Feb. 12 -- Carlos Slim Domit, America Movil's chairman, discusses the company's growth strategy with Bloomberg's David Gura on "Bloomberg Markets."

  • America Movil May Not Face Tougher Regulation Without Asset Sale: Regulator

    Mexico's telecom regulator will not necessarily impose tougher rules against billionaire Carlos Slim's America Movil if it does not go ahead with a plan to sell off assets, the head of the regulatory agency said in an interview on Friday.Mexico's Congress last year passed sweeping telecoms reform aimed at curbing America Movil's industry dominance, prompting the company to say it would sell a chunk of assets to reduce its market share to below 50 percent.

Other Advice Videos


  • Drone Buying Guide

    Interested in buying a drone? Here's some advice from an expert pilot on how to get into the hobby.

  • Tax Hacks 2016: Last Minute Tax Advice

    The IRS reports about three quarters of Americans have filed their tax returns. Are you among the remaining people who still need to file?

  • Author Valerie Fitzgerald Talks About Her New Financial Advice Book Heart and Sold

    Heart and Sold takes a look at how to create a successful business starting from the inside, while providing very concrete business-building tools.

  • Interview Tips to Get the Job

    Although you may think your resume should speak for itself, being dynamic in an interview can make all the difference in standing out among the other applicants. Here are a few tips to keep in mind before you put on your best business attire and head out the door.

  • Why Kids Who Misbehave Earn More Money As Adults

    Rule-breaking, defiant kids often end up richer than their more responsible peers, according to a new study. The WSJ's Lee Hawkins explains why.

  • Charles Duhigg Explains How to Make Yourself ‘Smarter Faster Better’

    Why do some people always seem to accomplish so much more than everybody else on a given day? 'Usually it's because they have built systems that forced them to understand how they think a little bit better and to contemplate a little bit more,' said Duhigg, author of Smarter Faster Better. 'They actually build systems into their days to force them to think more. And to think in specific ways.' For example, Alphabet (formerly Google) hires the best and brightest engineers, however, they maximize their productivity not because of their intelligence, but due to their teamwork. Duhigg, whose previous book The Power of Habit was a NYT bestseller, said the company spent four years and millions of dollars trying to build the perfect team. They learned the perfect team is not about putting the right people together. It's about creating the right culture. 'They figured out that the most effective teams offer psychological safety, which means that everyone gets a chance to speak, everyone is attuned to each other's non-verbal cues, or what is known as high social sensitivity,' said Duhigg. 'When you get that right culture, that's when a team becomes more than the sum of its parts,' said Duhigg. In terms of a company working "faster", Duhigg offers Disney's effort to finish its film "Frozen" as an example. During that process, Disney succeeded under tight time constraints because it had a process that forced them to focus on what they already knew best. 'Frozen', of course, eventually succeeded in becoming the highest grossing animated feature of all time. Regarding getting 'better' at a particular job, Duhigg said the key to motivation is that people feel most motivated when they feel in control. Finally, Duhigg said it is a common myth that the most productive people have a great deal of luck or money on their side as well. In fact, that is not true. 'Studies show that the most productive people tend to come out of some type of hardship,' said Duhigg. 'They didn't go to the best schools or grow up with rich parents. Instead they grew up in situations where they had to govern their own minds - and that's the key.'

  • Check These EY Tax Tips Before Filing

    Due to April 15th landing on a federal holiday this year, the deadline to file Form 1040 filing will be extended to April 18th. Greg Rosica, tax partner at EY, said filers need to remember that they can extend, but not delay. 'You can request a six-month extension of time to file through October 17. This extension, however, does not give you more time to pay any taxes due,' said Rosica. 'If you have not paid at least 90% of the total tax due by April 18, you may also be subject to an Estimated Tax Penalty.' In terms of commonly overlooked deductions, Rosica reminded filers not to forget items that carryover from a prior year, state and local taxes and out-of-pocket expenses related to charitable activities. 'Take out last year's tax return and look at it because you might have some items on there that carryover like a capital loss because you sold some stocks that you didn't have enough gains to offset,' said Rosica. 'Those will carryover to 2015 and you can take advantage of those in the current year as well.' Regarding last-minute tax tips, Rosica advises filers to double-check that their social security number has been correctly written on their returns and to make sure their W-2 and 1099s Forms are correct. As for new items for 2016, Rosica said certain tax breaks that were expected to expire were actually made permanent. The Educator Expense Deduction, for example, which allows teachers to deduct $250 for classroom supplies that were never reimbursed, is no permanent. Another is the IRA charitable transfer provision which allows those over 70 and a half to transfer $100,000 from their IRA to a charity tax-free. Finally, Rosica said the sharing economy is creating some new changes this tax season. If somebody wants to rent his or her home for occasional cash, and does not want to be bothered with recordkeeping, Rosica said to keep the home rentals at no more than 14 days per year. According to the rules, 15 days or less does not need to be recorded for tax purposes. However, if a person rents out his or her main home for more than 14 days, they will need to use Schedule E to report rental income and expenses on their tax return.