Telefonica Mexico not in talks to purchase AMX assets

• The Mexican unit of Spanish telecoms company Telefonica (NYSE:TEF) is not in talks to buy assets belonging to America Movil (NYSE:AMX), announced Telefonica Mexico's chairman Francisco Gil Diaz.
• Trying to avoid sweeping new anti-trust legislation passed by the Mexican government, America Movil has been looking to lower its market share by less than 50% by selling 15-17% of its assets.