Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

America Movil Going Global In A Search For Value

The last year has been a challenging one for America Movil (NYSE:AMX). While profits are improving in the Brazilian operations, a softer Mexican economy impacted results as regulators increasingly look to clip America Movil's wings. A recent decision to assume operating control of Telekom Austria (OTCPK:TKAGY) is not at all surprising, but the company has yet to clearly outline the value proposition for expansion into Europe as opposed to other Latin American markets. All told, America Movil is likely undervalued today on the basis of is long-term cash flow generation potential, but the company will likely have to show that it can deal with the new regulatory system in Mexico and extract value from Telekom before...

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