America Movil Increased Its Ownership in Telmex to 93%

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America Movil Increased Its Ownership in Telmex to 93% America Movil Increased Its Ownership in Telmex to 93%America Movil Increased Its Ownership in Telmex to 93%

 

21 November 2011

America Movil has recently announced that the company had increased its share in Telmex from 60% to almost 93% after the preliminary results of a buyout offer.
This change represents a part of the Carlos Slim's strategy to consolidate the telecom empire under the umbrella of America Movil.
According to America Movil’s officials, the company holds 92.79% after the offer expired on November 11. In order to increase its share in Telmex, the company will shell out nearly $4.6 billion. Before the deal, America Movil had almost 60% of Telmex.
The Mexican stock exchange claimed that Telmex had been removed from the “IPC index and replaced by shares of food franchiser Alsea. It will also stop trading on Wall Street.”

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