Mexico’s America Movil spins off Latin America tower business

Edna B. Shearer

The logo of The united states Movil is pictured on the wall at a reception space in the firm’s corporate workplaces, in Mexico Metropolis, Mexico January 25, 2022. REUTERS/Gustavo Graf

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MEXICO City, Aug 8 – Mexican telecommunications huge The united states Movil (AMXL.MX) reported on Monday it had done the planned spinoff of its Latin American mobile tower enterprise, generating a enterprise termed Sitios Latinoamerica.

The new business, controlled by the loved ones of billionaire Carlos Slender, has an inventory of 29,090 towers, 39% of which are in Brazil and the rest spread throughout Argentina, Chile, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru, Puerto Rico and Uruguay.

The spinoff was accepted very last September by The us Movil’s shareholders. read through a lot more

Existing The usa Movil shareholders will acquire just one Sitios share for every single 20 The usa Movil shares held.

In a securities filing, the company reported Sitios Latam will continue on “to appraise advancement alternatives in the region.”

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Reporting by Carolina Pulice and Diego Oré Editing by Leslie Adler

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