America Movil Said Unable to Buy Significant Part of AT&T Stake
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America Movil SAB, committed to sticking with its current targets for debt leverage, is unable to acquire a major part of AT&T Inc.’s $5.76 billion stake, a person with direct knowledge of the matter said.
While its repurchase program lets it acquire shares once owned by AT&T when they’re in the open market, America Movil has no plans to buy any significant portion of AT&T’s stake, said the person, who asked not to be identified because the matter is private. AT&T said two days ago it plans to divest the shares.