The Race for Numero Uno in Latin Wireless

América Móvil is fighting Telefónica for mobile supremacy in Latin America. But as prices fall, consumers are the ultimate winners

For the past five years, two mobile operators have been battling head-on to become the dominant player in Latin America: América Móvil (AMX), controlled by Mexican billionaire Carlos Slim, and Telefónica (TEF) of Spain. Both have spent billions to snap up competitors and expand their networks for hemisphere-wide coverage. So far, América Móvil has the upper hand, with 113.9 million wireless clients to Telefónica's 78.8 million.

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