Slim to Buy Out AT&T’s $6 Billion Stake in America Movil

Billionaire Carlos Slim will buy out AT&T’s $6 billion stake in America Movil SAB, propping up his Latin American mobile-phone company’s stock price as his longtime partner from the US exits the business. Slim’s holding company, Inmobiliaria Carso, told America Movil’s board it will acquire AT&T’s 8.3 percent stake, which includes 24 percent of the company’s voting shares, according to a filing. America Movil didn’t say how much Carso would pay, and Roberta Thomson, an AT&T spokeswoman, wasn’t immediately available for comment. The stake’s value of $6 billion is based on the closing price for the shares. AT&T is selling its holdings of Slim’s company after a 24-year relationship to avoid a conflict of interest because the Dallas-based company is buying DirecTV, which competes with America Movil for pay-TV customers across Latin America.