Eddy Elfenbein submits:Reuters published an interesting article on America Movil (NYSE:AMX). The company is the largest cellphone company is Latin America. Carlos Slim, who’s the fourth-richest man in the world, bought TelMex from the Mexican government in the early 90s. A few years later, he spun-off America Movil. The company now has over 90 million subscribers, including six million in the U.S.
The company is hugely profitable in Mexico and it’s used its success there to move into other Latin American markets. In the last three years, shares of AMX are up 650%.
AMX 1-yr Chart