America Movil, NII rally following asset sale news

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

The Street is giving a thumbs-up to America Movil's (AMX +7.6%) plans to appease regulators by selling Mexican assets to a new independent carrier, and putting its mobile towers in the hands of a separate company.

AMX says the moves will cut its Mexican market share below 50%, as sought by regulators. The company currently has ~70% of Mexico's mobile and fixed phone lines.

NII Holdings (NIHD +4.9%) is following AMX higher. The arrival of a new Mexican carrier might open the door to a deal involving NII's struggling Mexican ops.