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America Movil proposes Mexican towers spin-off
2015-04-01 20:17:00| Telecompaper Headlines
(Telecompaper) America Movil announced that it will propose a spin-off of assets relating to its mobile telephony business in Mexico to shareholders at a meeting scheduled for 17 April. The newly created company will include mainly passive infrastructure used by its Mexican mobile unit Telcel, as well as take over part of the company's debt. It would be listed separately on the stock market. America Movil aims to complete the spin-off by May or June, the company's CEO Daniel Hajj previously said during a conference call with investors in February. The move is expected to open up the infrastructure to use by other operators and help free America Movil from some of the new regulations in Mexico aimed at reigning in its dominant position.
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Category:Telecommunications