America Movil SA de CVNYSE
Thu, Nov. 17, 1:00 PM
- After a few years of delay, Mexico has elected to award the contract for a huge wholesale mobile network to the Altan group, a consortium that will need to create a multibillion-dollar operation to cover 85% of the population (and the only remaining bidder).
- The network was originally planned as part of telecom reforms firmly targeting the dominance in-country of Carlos Slim's America Movil (NYSE:AMX).
- It's set up to build a 20-year public-private partnership (Mexico is helping out with costs) to develop a nationwide 4G LTE network that others would rent, though mobile operators (AMX -1%, TEF +0.9%, T +1%) are reticent.
- The Altan group is backed by Morgan Stanley Infrastructure and the World Bank's International Finance Corp., and includes Alfa unit Axtel and Mexico's Megacable.
- The group is planning to surpass requirements by covering 92.2% of the Mexican population within seven years.
- Previously: Mexico launching wholesale mobile network tender (Jan. 29 2016)
Wed, Nov. 9, 3:05 PM
Fri, Oct. 28, 3:28 PM
- America Movil (NYSE:AMX) has posted an 11.9% gain today, reaching its highest point since May, after swinging to a profit and beating expectations with its Q3 results. Shares were flat in postmarket trading yesterday.
- Citigroup bumped its target price to $12 -- just 2.4% upside from yesterday's close; AMX is trading at $13.11 already today.
- On an earnings call today, CEO Daniel Hajj weighed in on whether AT&T's bid for content (via a blockbuster deal for Time Warner) would affect its strategy.
- "Let's see what's going to happen," he said. "Content is important right now; it's going to become very important in the future."
- As for its second largest market, Brazil, and speculation about the fate of bankrupt Oi, America Movil is always open to hearing about opportunities but he didn't expect consolidation there anytime soon.
- He added that regulator IFT is reviewing the strict measures it put in place against the company, and that the regulator could have a decision on that review by the first quarter of next year.
Fri, Oct. 28, 3:01 PM
Thu, Oct. 27, 6:26 PM
Thu, Oct. 27, 6:21 PM
- America Movil (NYSE:AMX) swung to a Q3 profit of 2.1B pesos (about $110M), helped again by currency improvements as revenues grew nearly 12%.
- Revenues of 249.7B pesos beat consensus for 239.86B pesos, but profits were well short of an expected 6.76B pesos. EBITDA of 67.7B pesos was up 1.5% and beat an expected 63.8B pesos.
- Access lines dropped 0.5% to 366M -- 284M wireless subscribers, 34M landlines, 27M broadband accesses and 22M pay TV units. Postpaid mobile subs grew by 750,000.
- Capex for the nine months was 100.5B pesos. The company reduced net debt by 19B pesos and distributed 9.6B pesos to shareholders via the dividends and share repurchases.
- Shares are flat in after-hour action.
- Company release
Wed, Oct. 26, 3:20 PM
- With AT&T beginning a long journey to acquire Time Warner, is T-Mobile (TMUS +0.7%) the next big acquisition target in the media/telecom space? Analysts are talking up the carrier's prospects after it logged another successful quarter.
- For its part, T-Mobile has been and still is "very interested" in strategic options, COO Mike Sievert says.
- "The takeout target over the next 12 months has got to be T-Mobile," says New Street Research's Spencer Kurn, noting potential suitors in Comcast (NASDAQ:CMCSA) -- which is exercising a clause with Verizon to launch MVNO service -- as well as Dish Network (NASDAQ:DISH) and America Movil (NYSE:AMX).
- Dish has a lot of spectrum but no wireless business -- and it's lost a potential buyer in AT&T, which now has its hands full with Time Warner, notes BTIG's Walt Piecyk.
- Rival Sprint (S -1.8%) could be a takeover target as well, as CEO Marcelo Claure noted "we've had a lot of bankers placing more calls than usual over the weekend" in yesterday's earnings call.
Fri, Oct. 7, 7:43 AM
- Shareholders of America Movil (NASDAQ:AMOV) have approved a proposal to delist shares from the Nasdaq and Latibex stock exchanges.
- The company will offer stockholders the choice to receive the second part of their ordinary dividend in cash or shares and will publish more information about the terms and conditions of exercising dividends in the coming days.
Wed, Sep. 14, 4:12 PM
- There's no plan to delist Telekom Austria from Vienna's stock exchange, according to parent company America Movil (AMX -1.4%).
- Chief Financial Officer Garcia Moreno denied a report from Der Standard that Carlos Slim's telecom was thwarted in a desire to delist its subsidiary because of an agreement with Austria's state holding company.
- Moreno says the company sees Telekom Austria as a unified company, APA reported today.
- Previously: America Movil to trim Telekom Austria stake, maintain control (Jul. 28 2016)
Wed, Sep. 14, 4:00 AM| Wed, Sep. 14, 4:00 AM
Sun, Jul. 31, 11:22 PM
Fri, Jul. 29, 9:22 AM
Thu, Jul. 28, 1:41 PM
- America Movil (AMX -3.7%) is going to trim its stake in Telekom Austria to just over 50%, as part of an agreement it made to increase the Austrian firm's free float by the end of 2016.
- Carlos Slim's telecom giant holds about 59.7% of Telekom Austria, which it took over via a July 2014 offer. It will cut its stake by some 7.8 percentage points.
- Elsewhere (and surely not just coincidentally), Citigroup said it was issuing bonds exchangeable into 7.8% of Telekom Austria's shares. The €374.2M issue has an exchange price of €7.213/share; Telekom Austria's shares closed down 3.8% to €5.11 in Vienna.
- In terms from the acquisition, America Movil had pledged to increase Telekom Austria's free float to 20%; it's currently around 12%. Austria's state holding company owns about 28.4% of its incumbent telecom.
Fri, Jul. 15, 10:36 AM
- AT&T (T +0.4%) is setting its own bar high for investing in Mexico, targeting becoming the country's leading operator within 10 years -- a tall order involving unseating incumbent America Movil (NYSE:AMX).
- The company wants to cover 75M people in Mexico by the end of this year, and 100M by the end of 2018. That's toward AT&T's larger goal of a North American area covering 400M. It's investing $3B into Mexico to hit those goals.
- According to the Federal Telecommunications Institute, America Movil has a 68% share of the mobile market; Telefonica (NYSE:TEF) has 23.2% and AT&T just 8.1% for now.
Tue, Jul. 5, 5:53 PM
- TracFone (a unit of AMX) is pursuing an interim leader following the death of its founder and CEO, F.J. Pollak.
- Pollak founded the prepaid wireless company in 1996 as Topp Telecom, and eventually grew it into the country's largest mobile virtual network operator, and one of the country's top providers overall.
- Carlos Slim's Telefonos de Mexico (precursor to America Movil) bought a controlling interest in Topp in 1999, for $57.5M. Tracfone serves nearly 26M customers through seven brands operating all major mobile carriers.
Thu, Apr. 28, 9:16 AM| Thu, Apr. 28, 9:16 AM