Slim Poised for Africa Deal With Mexico Slowing

Billionaire Carlos Slim may have to look 6,000 miles away for acquisitions if he wants to use a mounting cash pile to rejuvenate sales at America Movil SAB. America Movil, the wireless carrier 42 percent controlled by Slim and his family, will increase revenue 6 percent this year and next, the slowest rate in its history, according to analysts’ estimates compiled by Bloomberg. The largest mobile- phone company in the Americas may spend some of its cash from operations, which is projected to reach a record $12.6 billion next year, on takeovers to help boost sales, said Stifel Nicolaus & Co. With America Movil already owning networks across Latin America, the Mexico City-based company may look for purchases as far away as Africa where much of the population has yet to adopt mobile phones, according to Corp. Actinver SAB. While Greenwood Capital says Slim may instead opt to ramp up share buybacks and dividend payouts, the world’s richest person could also find bargain telecommunications purchases in Central America or the Caribbean, said Stifel Nicolaus.