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Last $16.90 USD
Change Today +0.10 / 0.60%
Volume 4.2M
As of 8:04 PM 10/2/15 All times are local (Market data is delayed by at least 15 minutes).

america movil-spn adr cl l (AMX) Key Developments

America Movil Mulls Acquisitions

America Movil S.A.B. de C.V. (BMV:AMX L) is seeking acquisitions. Chief Financial Officer, Garcia Moreno said, "In Eastern Europe you need to build a lot more, develop the fixed platform much more for the new phase of growth in mobile data services," he said. "In this process there are acquisitions that can be made. Despite interest in Eastern Europe, Garcia Moreno said the company had opted out of the coming privatization of Serbia's Telecom Srbija, for which bids were due by August 2, 2015”

America Movil Opted Out Of Privatization Race

America Movil S.A.B. de C.V. (BMV:AMX L) has opted out of the bid for the privatization of Telekom Srbija a.d., for which bids were due by August 2, 2015. Incumbent telcos are seen as national strategic assets and their privatization is rarely a straightforward process. Take Telekom Srbija, whose upcoming sale is now very much in the news. The process got under way in earnest in late June, when the government signaled its intention to privatize the company, until now majority (58.11%) state owned. Much more will become clearer in the next few days, as the privatization of Telekom Srbija moves into to a new and critical phase.

Telekom Austria And Deutsche Telekom Reportedly Potential Suitors For Telekom Srbija

Deutsche Telekom AG (DB:DTE) and Telekom Austria AG (WBAG:TKA) have reportedly filed non-binding bids to acquire Telekom Srbija a.d. on August 2, 2015. The list includes "around 10 investment funds," four of which from the US, which reportedly will most likely not file a binding bid due to objection by minority shareholders. Instead, a possible option is for America Movil S.A.B. de C.V. (BMV:AMX L) to bid for Telekom Srbija independently, according to unnamed sources cited by Austrian media. According to trade and telecommunications minister Rasim Ljajic, bids for Telekom Srbija will be invited on August 3, 2015. Serbian telecommunications minister Rasim Ljajic said on August 2, 2015, that multiple non-binding bids have been submitted for the privatisation of Telekom Srbija a.d.. A number of non-binding bids were received from several investment funds and telecommunication companies, Ljajic said in a video file posted on the website of news agency Tanjug. The bids will be examined during the next 14 days and those that qualify will be shortlisted. Any candidate whose offer is accepted will be allowed to conduct due diligence at the company before submitting a final bid, Rasim Ljajic said.

América Móvil Appoints José Felix as a New CEO for Brazil; Announces Structural Change for Brazil

América Móvil has a new CEO for Brazil, where the group operates under the brands Claro Brasil, NET and Embratel. José Felix has been appointed to lead local operations. Félix has worked for the group since 1990, and served as president of NET from January 2008 to July 2015. He was invited to join NET in 2003, as COO. Félix is a telecommunications engineer and graduated from Brazilian university PUC-RS. The group, which is in the process of merging its companies in Brazil, also announced a new corporate structure for the country, which will be divided into three core business units as follows: Residential, which will be managed by Daniel Barros; Personal, to be led by former Claro Brasil CEO Carlos Zenteno; and Corporate, to be headed by Embratel's José Formoso. The new business units will be responsible for customer management and strategy for each of the three segments. The following departments have also been created: Strategy and Operational Management; Legal and Regulatory; Administration and Finance; Systems and IT Operations; TV and Access Engineering; and Switching and Transport Engineering, under the responsibility of André Sarcinelli.

America Movil May Divest Stake In Koninklijke KPN

America Movil S.A.B. de C.V. (BMV:AMX L) has reclassified its 21.1% stake in Koninklijke KPN N.V. (ENXTAM:KPN)to an asset ready for sale from a long-term investment. The stake has a carrying price of MXN 39.5 billion.


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