america movil-adr series l (AMX) Key Developments
America Movil S.A.B. de C.V. Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2014
Sep 29 14
America Movil S.A.B. de C.V. reported unaudited consolidated earnings results for the six months ended June 30, 2014. For the period, the company reported operating revenues of MXN 398,073,655,000 against MXN 387,759,594,000 a year ago. Operating income was MXN 77,931,867,000 against MXN 79,214,548,000 a year ago. Profit before income tax was MXN 56,098,552,000 against MXN 60,480,666,000 a year ago. Net profit for the period attributable to equity holders of the parent was MXN 32,719,647,000 or MXN 0.47 per basic diluted share against MXN 41,063,843,000 or MXN 0.55 per basic and diluted share a year ago. Net cash flows provided by operating activities was MXN 102,434,325,000 against MXN 74,434,272,000 a year ago. Purchase of property, plant and equipment was MXN 49,112,041,000 against MXN 55,719,054,000 a year ago. Purchase of telecommunications licenses was MXN 1,018,190,000.
America Movil Still Evaluate Asset Sales
Sep 29 14
America Movil S.A.B. de C.V. (BMV:AMX L) said in regulatory filing,"In July 2014 the company’s board of directors approved the implementation of various measures to reduce its national market share in the Mexican telecommunications market to under 50% in order to cease to be a preponderant economic agent, which are still under the analysis of the company’s management and subject to approval of the Mexican telecommunication regulator. The company’s board of directors also decided that all cellular sites, including towers and related passive infrastructure, are to be separated from its Mexican subsidiary of mobile services for their corresponding operation and commercialization to all interested parties, as of the date of the preparation of these financial statements, the company is still analyzing the cellular sites, towers and related passive infrastructure that could be separated from its Mexican subsidiary of mobile services. Also the conditions required in IFRS 5 “Non-current assets held for sale and discontinued operations” are not yet been met for such assets to be considered as held for sale."
America Movil May Acquire Tim Brasil
Sep 25 14
America Movil S.A.B. de C.V. (BMV:AMX L) may acquire Tim Brasil Serviços e Participações S.A. from Telecom Italia S.p.A. (BIT:TIT). Reuters said last week that Movil was in talks with both Oi SA (BOVESPA:OIBR4) and Vivo Participacoes S.A. about mounting a joint offer worth about BRL 30 billion, though the stakes would have to be structured to satisfy regulatory concerns.
America Movil Reportedly Attracts Investors For Mexican Assets
Sep 15 14
America Movil S.A.B. de C.V. (BMV:AMX L) is preparing to sell assets along the east coast of Mexico that could fetch as much as $17.5 billion, Wall Street Pit reported citing people with knowledge of the matter. Potential Suitors include AT&T, Inc. (NYSE:T) and SoftBank Corp. (TSE:9984) Bell Canada, Inc. owned by BCE Inc. (TSX:BCE) and China Mobile Limited (SEHK:941). The sale will include America Movil S.A.B. de C.V.'s infrastructure in a strip of states from north to south along Mexico’s eastern coast. America Movil S.A.B. de C.V. hasn’t yet asked for bids because the preliminary information, or teasers, didn’t provide enough details for a company to make an offer. A press official for America Movil S.A.B. de C.V. declined to comment, as did Brad Burns, a spokesman for AT&T, Inc. Representatives for SoftBank Corp. and BCE Inc. didn’t immediately respond to requests for comment. China Mobile Limited didn’t respond to an e-mail message seeking comment sent outside regular business hours.
America Movil S.A.B. de C.V. Presents at Goldman Sachs 23rd Annual Communacopia Conference, Sep-10-2014 02:05 PM
Sep 8 14
America Movil S.A.B. de C.V. Presents at Goldman Sachs 23rd Annual Communacopia Conference, Sep-10-2014 02:05 PM. Venue: Conrad New York: 102 North End Avenue, New York, NY 10281, United States. Speakers: Carlos José Garcia Moreno Elizondo, Chief Financial Officer.