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America Movil aims to sell assets as quickly as possible

09
Jul
2014

Mexican telecoms company America Movil plans to divest assets as quickly as possible to escape tougher regulation, and it hopes to sell to a single buyer, spokesman Arturo Elias said on Wednesday. The company controlled by billionaire Carlos Slim announced on Tuesday that it was ready to sell assets to cut its market share in Mexican telecoms below 50 percent and escape regulations that apply only to dominant players. Those new rules are part of a telecommunications sector overhaul approved by Congress in an attempt to curb the power of America Movil and broadcaster Televisa . Shares of America Movil, which has about 70 percent of Mexicos mobile business and 80 percent of its fixed line market, rose more than 5 percent after markets opened on Wednesday.

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