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Mon, May. 19, 1:56 AM
- AT&T (T) intends to sell its $6B, 8.4% holding in América Móvil (AMX) in order to avoid conflicts of interest from its proposed $48.5B acquisition of DirecTV (DTV) and "facilitate the regulatory approval process in Latin America."
- AT&T's representatives on América Móvil's board are set to resign.
- The deal will give AT&T a large presence in a region in which DirecTV has 18M customers, making it one of the largest pay-TV operators in Central and South America - along with América Móvil.
Fri, Mar. 7, 4:51 AM
- Mexico's Federal Telecommunications Institute (IFT) is moving to boost competition in the telecom and broadcasting sectors and it is notifying companies that it considers to be dominant.
- In a statement, IFT didn't mention names but it was most likely referring to America Movil (AMOV) in the telecom market and Televisa (TV) in the broadcasting sector.
- The classification is important, as the IFT has new powers to break up dominant players, although the regulator has said in the past that such a move would be a last resort.
- Instead, the agency is implementing other measures such as holding a tender for two new national broadcasters.
- However, the IFT needs to wait for final legislation to be passed before it can fully move ahead with reform.
Fri, Jan. 3, 3:37 AM
- Telefonica (TEF) is reportedly working on a joint offer with its two main rivals in Brazil to acquire TIM Brasil and then break up the Telecom Italia (TI) unit.
- The Spanish giant's prospective partners are Carlos Slim's America Movil (AMX, AMOV), the owner of mobile operator Claro, and Brazil's Oi.
- Telefonica already has an interest in TIM Brasil via its 15% stake in Telecom Italia, although regulators last month told the Spanish operator to divest that interest or find a new partner for its Vivo mobile unit.
Oct. 25, 2013, 2:36 AM
- America Movil (AMX, AMOV) Q3 net profit slumped 46% to 16.38B pesos ($1.25B), badly missing consensus of 25.66B pesos.
- Revenue +0.7% to 194.22B pesos, helped by increased smartphone sales.
- EBITDA -5.8% to 63.3B pesos.
- Number of mobile subscribers increased by 3.1M to 265M.
- Earnings were hurt by an increase in financing costs to 10.8B pesos, including a forex loss of 2.9B pesos, as well as by customers making fewer calls - service revenues declined 1.4%. (PR)
Oct. 17, 2013, 4:55 AM
- Although America Movil (AMOV, AMX) has withdrawn its €7.2B ($9.7B) bid for KPN (KKPNY.PK) because of a disagreement over price, the deal may not be dead, the CEO of the Dutch telecom group has indicated.
- "I'm not going to say which price we wanted because there is a possibility that we will be sitting around the table again," Eelco Blok said.
- Despite the prospect of renewed talks, KPN shares are -8.6% in Amsterdam.
Sep. 18, 2013, 4:32 AM
- AT&T (T) plans to unveil a partnership with America Movil (AMOV, AMX) today that will expand the U.S. carrier's reach for business customers in Latin America to 15 countries, including Argentina, Chile and Colombia.
- Before this, AT&T's focus in the region was mainly on Mexico and Brazil.
- AT&T has a long-standing relationship with America Movil that includes the U.S. operator holding a stake of 9% in Carlos Slim's company. Some analysts have speculated that the firms could combine to expand in Europe.
Sep. 16, 2013, 4:15 AM
- KPN (KKPNY.PK) will be able to cut its taxable income in Holland by €3.7B ($4.9B) over the coming years, beginning in 2014, due to the losses it's suffering on the the €8.55B ($11.4B) sale of German unit E-Plus to Telefonica Deutschland.
- The Dutch telecom carrier, which is the subject of a €7.2B takeover bid from Mexico's America Movil (AMX, AMOV), bought E-Plus for almost €19B.
Sep. 12, 2013, 2:27 AM
- Has Carlos Slim's bluff been called? Slim's America Movil (AMX, AMOV), which owns 29.8% in KPN (KKPNY.PK), is in talks over a full takeover of the Dutch telecom carrier, the latter says.
- America Movil had offered €7.2B ($9.58B) to acquire the shares in KPN it doesn't own but threatened to drop the bid in response to the KPN foundation adopting a poison pill.
- KPN shares rose yesterday on speculation that Slim would increase his proposal even though America Movil has said there is "no way" it would do so. (PR)
Sep. 1, 2013, 2:35 AM
- America Movil (AMX, AMOV) has said there is "no way" it will increase its €7.2B bid for KPN (KKPNF.PK) after an independent foundation connected to the Dutch telecom operator moved to block the offer. America Movil has said it is prepared to walk away from the deal.
- Spokesman Arturo Elias said America Movil would "have to carefully analyze" whether to sell its 29.8% stake in KPN if the proposal were to be unsuccessful.
- Elias also denied the foundation's contention that the America Movil's bid is hostile, saying "we've had lots of conversations with (KPN's) management."
Aug. 30, 2013, 3:45 AM
- America Movil (AMX, AMOV) is prepared to withdraw its €7.2B takeover offer for KPN (KKPNF.PK) after an independent foundation created to protect the interests of shareholders and other stakeholders moved to block the deal.
- The foundation exercised an option to acquire almost 50% of KPN's voting stock, saying that those stakeholder interests were at risk because America Movil didn't consult with the Dutch telecom carrier before announcing its bid. However, the foundation is open to America Movil addressing its concerns.
- KPN shares are -5.2% in Amsterdam.
Aug. 26, 2013, 2:52 AM
- America Movil (AMX, AMOV), which owns almost 30% in KPN (KKPNF.PK) and is looking to acquire the rest, will support the latter's sale of its German mobile unit E-Plus to Telefonica Deutschland (TEF) after the Spanish-owned telecom operator improved the deal terms.
- KPN will now receive 20.5% in Telefonica Deutschland rather than 17.6%, as originally planned, raising the value of the transaction to €8.55B ($11.4B) from €8.1B.
- KPN shareholders are due to vote on the sale on October 2.
Aug. 14, 2013, 3:04 AM
- An independent foundation that has the ability to prevent America Movil's (AMX AMOV) €7.2B acquisition of KPN (KKPNF.PK) has expressed concern about the deal.
- "There is considerable uncertainty about América Móvil's intentions," the foundation said, citing a lack of information, "including (about) KPN's intention to sell its German subsidiary E-Plus." The latter is due to be acquired by Telefonica (TEF).
Aug. 9, 2013, 2:05 AM
- America Movil (AMX), which owns 29.8% of KPN (KKPNF.PK), is launching a bid to acquire the rest of the Dutch carrier for €2.40 a share, or a 20% premium to yesterday's closing price.
- The offer values the 70.2% stake that America Movil doesn't own at €7.2B.
- The proposal comes after America Movil last month terminated an agreement to keep its stake under 30% after KPN agreed to sell its German unit E-Plus to Telefonica (TEF) for €8.1B. The Mexican company has yet to decide whether to support the transaction.
- America Movil's proposal is conditional on obtaining a stake of over 50%.
Jul. 29, 2013, 3:21 AM
- America Movil (AMX) has terminated a "standstill" agreement to limit its holding in KPN (KKPNF.PK) to below 30%, signaling that Carlos Slim's company could bid for the whole of the Dutch telecom group.
- America Movil was entitled to end the deal following Telefonica's €8.1B bid for E-Plus, KPN's German mobile unit.
- America Movil hasn't said whether it plans to raise its stake in KPN to 30%, which would force the Mexican carrier to make an offer for the shares it doesn't own. (PR)
Jun. 28, 2013, 5:31 PMAfter-hours top gainers, as of 5:15 p.m.: VTSS +3%. AMOV +2%. SNFCA +1%. ARNA +1%. IXJ +1%.
After-hours top losers: IDCC -8%. GLD -3%. TRMR -3%. JKHY -2%. BVN -2%. | 2 Comments
Jun. 11, 2013, 3:06 AMMexican President Enrique Pena Nieto has signed into law a sweeping overhaul of his country's telecom and broadcast sectors that aims to increase competition and reduce the power of the dominant players, America Movil (AMX, AMOV) and Grupo Televisa (TV). The measures include the creation of a new regulator with wide-ranging powers such as being able to force companies to sell assets. Teleonica (TEF), which holds around 20% of the wireless market, hopes to benefit. | Comment!
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America Movil SAB de CV with its subsidiaries is engaged in providing telecommunications services. Its telecommunications services include mobile & fixed voice services, mobile & fixed data services, internet access & paid TV, and other related services.
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