America Movil Falls as Smartphone Discounts Crimp Profits
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America Movil SAB, the mobile-phone company controlled by billionaire Carlos Slim, dropped in Mexico trading after smartphone discounts contributed to a 17 percent decline in first-quarter profit.
The shares fell 0.4 percent to 12.44 pesos at the close in Mexico City. They have slid 17 percent this year, compared with a 2.1 percent decrease for the benchmark IPC index.