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America Movil declared dominant player in Mexico

2014-03-09 11:42:00| Telecompaper Headlines

(Telecompaper) Mexican operator America Movil said it has been declared dominant in the telecoms market by the Federal Telecommunications Institute (IFT). The (IFT) said America Movil therefore needs to be subject to tougher regulation. The regulator also declared that Slim's bank Inbursa and conglomerate Grupo Carso were dominant in telecommunications because they were part of a group with the same economic interests as America Movil. The regulation of its local subsidiaries Telmex (fixed) and Telcel (mobile) will include asymmetric interconnection rates, regulated access to passive infrastructure, local loop unbundling, retail-minus and LRIC pricing of wholesale dedicated links, the elimination of national roaming charges and mandatory roaming access for other operators and virtual providers. The operator must also provide reference offers for all the above services and will be subject to quality and reporting obligations. America Movil will also face limits on its retail activities. These include an end to Sim locks, limited exclusivity on handsets and broadcast content, an obligation to offer all services in a bundle separately and review of certain retail prices. The IFT said its anti-trust measures would be reviewed after two years, whereupon it could opt to take stronger action against dominant players, or ease the regulatory burden. America Movil said it was still assessing the full impact of the proposed regulation.

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America Movil, Austrian govt discuss joint stake in Telekom

2014-02-25 09:18:00| Telecompaper Headlines

(Telecompaper) America Movil announced that it has held cooperation talks with other shareholders of Telekom Austria Group, including the government holding company, Oesterreichische Industrieholding (OIAG). The company said it may start formal negotiations on setting up a shareholders' syndicate agreement with OIAG. However, the process is still at a very early stage and an agreement may not be reached. At the moment the two shareholders do not have any common understanding in relation to Telekom Austria. America Movil holds 26.8 percent in the Austrian operator and the government has 28.4 percent. Combining their stakes in a syndicate would take them over the limit of 30 percent when a mandatory offer for the other shares is required. Such an agreement could allow America Movil to increase its stake in the company, while still allowing the government a say on the operator's strategy.

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America Movil trims stake in KPN

2014-02-12 12:30:00| Telecompaper Headlines

(Telecompaper) America Movil said it had a 27.1 percent stake in Dutch operator KPN at the end of 2013, down from the previously announced 29.7 percent. The announcement was made in the publication of its annual results. KPN CEO Eelco Blok told the Financial Times that the company was starting to repair relations with its largest shareholder, after rejecting America Movil's takeover bid last year. He admitted the relationship was "not really good" after the failed bid, but said it has since improved, although "not as good as it was before the offer". The America Movil members on KPN's board are "participating in a constructive manner", the CEO said, and the companies are looking at reforming their working groups, starting first with joint procurement. According to Blok, America Movil has not made clear any further intentions for KPN. The company is prohibited until April from launching a new bid for the group. The KPN CEO said the reason the previous bid broke down was "only about price", as America Movil was unwilling to increase its offer. KPN's shares are now worth around EUR 2.60 per share, compared to America Movi's offer of EUR 2.40.

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America Movil grows net profit 15.7% in Q4

2014-02-12 08:44:00| Telecompaper Headlines

(Telecompaper) America Movil reported fourth-quarter net profit of MXN 17.2 billion, up 15.7 percent from a year earlier. The result included a charge of MXN 10.2 billion for foreign exchange losses. EBITDA improved 1.4 percent to MXN 63.5 billion, and revenues were up 3.1 percent to MXN 204 billion. Excluding exchange rate effects, EBITDA rose 5.7 percent and revenues rose 7.8 percent, with a 5.4 percent increase in service revenues. The main growth drivers were mobile data and pay-TV, which grew at constant rates by 18.8 and 21.8 percent respectively. America Movil finished the year 339 million revenue-generating units, up 4.2 percent from 2012. In the fourth quarter alone, the company added 4.8 million mobile customers and 1.2 million RGUs at its fixed-line businesses. This gave it a total 270 million mobile users and 69 million fixed RGUs at the end of 2013. The company's net debt increased over the year from MXN 372 billion to MXN 447 billion, equal to 1.7 times EBITDA. This helped fund MXN 130 billion in capital expenditure, MXN 86.5 billion in shareholder returns and MXN 15.4 billion on acquisitions last year.

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