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.

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    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.

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  • 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

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  • 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?

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  • 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 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.

  • 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.

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    It seems as if a wide-ranging new set of anti-monopoly regulations aimed at busting up his dominance in Mexico’s telecom market has whetted Mexican billionaire Carlos Slim Helú’s known appetite for new investments. In fact in June the world’s second richest man went out shopping.

  • Billionaire Telecom Tycoon Carlos Slim Pushes Back Against Mexican Government Crackdown On Monopolies

    It didn’t take long for Mexican telecom tycoon Carlos Slim Helú to fight back against an unprecedented decision by Mexican authorities to bust up his telecom monopoly.

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