America Movil spends $5.4B on 2013 buybacks, more expected in 2014

|About: America Movil SA de CV (AMX)|By:, SA News Editor

America Movil (AMX) managed to repurchase 7% of its outstanding shares in 2013, and analysts think the Latin American mobile giant's aggressive buyback pace won't let up in 2014.

In spite of the buybacks, AMX ended Q3 with $5.5B in cash/equivalents, up 60% Y/Y. With investors worried about the future cash flow impact of Mexican regulatory scrutiny, many view buybacks as a more sensible use of the carrier's capital than acquisitions.