America Móvil Increases Stake In Telmex

On November 14 2011, América Móvil increased its ownership of Telmex from 60% to 92.79% through a shareholder buyout offer. It will pay MXP62.1bn (US$4.1bn) for the extra shares, financed through selling bonds in international markets. After disappointing Q311 results, CFW believes the move bodes well for América Móvil, which will be able to further integrate its mobile and fixed-line operations in its domestic market.

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