america movil-adr series l (AMX) Key Developments
America Movil Reports Earnings Results for the Second Quarter Ended June 2014
Jul 22 14
America Movil reported earnings results for the second quarter ended June 2014. For the quarter, the company reported a 32.7% jump due to reduced financing costs and a lower exchange rate. The company increased its profit to MXN 18.8 billion equivalent to MXN 0.27 per share and revenue also went up 4% to MXN 202.6 billion. EBITDA was grown by 2.4% to MXN 66.63 billion. Operating profit was MXN 39.2 billion that was 3.3% down from the year-earlier quarter on account of depreciation and amortization changes having increased 12% in the period. Cash flow was allowed to the company to reduce its net debt by MXN 30.9 billion, in flow terms, since last December to MXN 412.3 billion and to foreign capital expenditures in the amount of MXN 45.6 billion.
America Movil Plans To Spin-Off Mobile Communications Towers
Jul 22 14
America Movil S.A.B. de C.V. (BMV:AMX L) plans to spin-off its mobile communications towers rather than sell them as part of an asset-reduction plan. The news was confirmed by Daniel Hajj, Chief Executive Officer of America Movil. He also said, "We'll spin-off the towers. We don't want to sell them, because we think that's the best way to create value for shareholders".
Investors Eye America Movil Assets
Jul 15 14
Alestra, S. de R.L. de C.V.; Telefónica México, S.A. de C.V., and Axtel S. A.. B. De CV (BMV:AXTEL CPO) eye assets of America Movil S.A.B. de C.V. (BMV:AMX L). "We've always been interested from the start. We're a highly active player and we're open to all opportunities - and we'll explore them all," Alestra Cheif Executive Officer Rolando Zubirán was quoted as saying by El Universal. Axtel regulatory and interconnection director Ermilo Vázquez indicated his company also was interested in AMX assets, but said the firm was waiting for more details. Telefónica Mexico would only be interested if the assets were sold at attractive prices, company President Franciso Gil Díaz reportedly said. UBS said the assets could sell for as much as $15 billion if AMX decides to sell off its portfolio of more than 20,000 towers in Mexico, plus 20,000 elsewhere in Latin America.
America Movil S.A.B. de C.V., Board Meeting, Jul 08, 2014
Jul 9 14
America Movil S.A.B. de C.V., Board Meeting, Jul 08, 2014. Agenda: To authorize measures to reduce its national market share in the Mexican telecommunications market.
América Móvil to Sell Assets
Jul 9 14
America Movil S.A.B. de C.V. (BMV:AMX L) has decided to sell assets in Mexico to lower its market share. América Móvil said its board approved the measures to cut its market share to less than 50%. America Movil said it would sell certain assets to a new independent operator with experience in telecommunications and the capacity to invest in the capital-intensive industry to overcome the obstacle of insufficient investment by our competitors in Mexico. The plan to sell assets at market value is conditioned on mobile unit Telcel and fixed-line unit Telmex ceasing to be considered dominant, and on America Movil being allowed to enter the television market.