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América Móvil SA de CV - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
América Móvil SAB de CV is a Mexico-based holding company owning majority stakes in wireless and fixed-line operations in 17 countries in the Americas at the end of November 2007. The company is the largest provider of wireless communications services in Latin America based on subscribers - 143.3 million as of September 2007 - and at that time also operated more than 3.8 million fixed-lines in El Salvador, Guatemala, Nicaragua, the Dominican Republic and Puerto Rico. América Móvil was established in September 2000 in a spin-off from Mexican incumbent telecommunications operator, Teléfonos de México SA de CV (Telmex). The spin-off was implemented using a procedure under Mexican corporate law called escisión or split-up. In 1999,América Móvil began to invest in other operators in Latin America and as a result, as of December 31, 2006, approximately 65.4% of the company's wireless subscribers were located outside Mexico. As of May 4, 2007, Carlos Slim Helú, together with his sons and daughters (together the Slim family), controlled América Móvil through their beneficial ownership held by a trust and another entity and their direct ownership of shares. As of April 30, 2007, the Slim family trust owned 44.4% of América Móvil's voting shares. Other shareholders holding more than 5% of the voting shares in América Móvil were AT&T Inc (23.4%) and Inmobiliaria Carso (5.6%).
This Company Intelligence Report was produced as part of
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