Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

America Movil Pays $4.6 Billion to Boost Control of Telmex

Carlos Slim’s America Movil SAB will pay 62.1 billion pesos ($4.6 billion) to increase its stake in Telefonos de Mexico SAB to 93 percent as the billionaire seeks to move all of his telecommunications assets into one company.

Stockholders of America Movil, which already controlled 60 percent of Telmex, tendered 5.92 billion shares of the unit for 10.50 pesos each, according to a filing today to the Mexico stock exchange. Delisting a stock, as America Movil plans with Telmex, requires the support of holders of at least 95 percent of the shares.

America Movil, the largest mobile-phone carrier in the Americas, plans to combine its operations with Mexico’s largest landline phone carrier since buying a majority stake last year. The Mexico City-based company has said the acquisition will cut administrative costs, such as accounting, and may lead to joint stores and customer-service operations.

America Movil has sold more than $5 billion in bonds in the U.K., Japan, Switzerland and the U.S. since August to help finance the transaction.

The company acquired its 60 percent stake in Telmex last year in a $23 billion transaction that also gave it full ownership of Slim’s fixed-line networks in South America. America Movil spent an additional $2.7 billion between October and January to buy preferred shares in Brazilian cable carrier Net Servicos de Comunicacao SA.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.