América Móvil looks to draw in heavy-hitter for asset sale

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América Móvil is seeking a single, deep-pocketed buyer for the approximately 15-17 percent of assets it is putting on the block to avoid harsh new Mexican competition regulations and says it hopes to wrap up the divestment quickly to focus on pay-TV.

Arturo Elías Ayub, son-in-law of América Móvil chief Carlos Slim and a company spokesman, said the assets to be sold had not yet been finalised, but would not only include rural subscribers as some analysts have suggested. “There would be no point,” he said. “Nobody would buy them because they’re not profitable. And it’s not a large part of the market.” Elías Ayub said it was premature to say what the company could spend the proceeds of the sale on, but it was not bowing out of its home market. “We will still continue to invest in Mexico,” he said.


América Móvil looks to draw in heavy-hitter for asset sale