America Movil’s increases its stake in Telemex to 93 percent (Latin America)

On 11.17.11, In Mobile, By Editor

America Movile, the leading wireless service provider in Latin America, has reportedly said its stake in Telmex has gone up from 60 percent to as much as 93 percent, as a consequence of a shareholder buyout offer. According to reports, the operator will be required to pay around US$ 4.6 billion, to increase its holding, for which the company reportedly sold bonds worth over US$ 5 billion in the UK, Japan, Switzerland and the US since August this year.

As per industry reports, in August, Carlos Slim, Chairman, America Movil had said that they were looking to restructure their telecoms empire by buying out a 40.4 percent stake in Telmex for US$ 0.77 per share in an attempt to reduce administrative costs along with improving its competitiveness in the market.

 

Filed under:Mobile  Tagged with: • • • •
 
0 Comments
Leave A Response

Telmex to rebrand as Claro in Ecuador

On 03.28.11, In Mobile, By Editor

America Movil is all set to rebrand its Ecuador fixed-line unit Telmex as Claro.

The re-branding decision is part of a strategy being implemented by Mexican billionaire Carlos Slim across America Movil’s subsidiaries in the region.

America Movil currently operates under the Claro brand name in 14 Lain American countries. America Movil recently rebranded its Ecuador mobile unit as Claro.

According to the company, the use of the Claro brand name does not include a merger of the two companies, as both continue to operate independently in their respective businesses.

 

Filed under:Mobile  Tagged with: • • • • • •
 
0 Comments
Leave A Response

Carlos Slim ranks as the world’s richest person the second time

On 03.14.11, In Mobile, By Editor

The annual “rich list” from Forbes Magazine has revealed that  Mexico’s telecoms tycoon, Carlos Slim has seen his personal fortune jump by more than a third over the past year to reach US$74 billion. Microsoft founder turned Philanthropist, Bill Gates is second with a fortune of US$56 billion.

Carlos Slim is the chairman and CEO of telecommunications companies Telmex and America Movil and has extensive holdings in other Mexican companies through his conglomerate, Grupo Carso, as well as business interests elsewhere in the world. America Movil, which at 2010 was Latin America’s largest mobile-phone carrier, accounted for around US$49 billion of his wealth by the end of 2010.

According to Forbes, over 200 people joined the billionaires list over the past year, taking the global total to a record high of 1,210 billionaires. Six of the billionaires are linked to the Facebook website, including Dustin Moskovitz, who is the youngest person on the list at 26.

Ikea founder, Ingvar Kamprad, who controversially hides his assets via a Dutch charity for tax reasons, saw his personal fortune drop from US$17 billion to US$6 billion.

The collective wealth of the billionaires on the list also hit a new record of $4.5 trillion.

Asia also overtook Europe for having the most billionaires, with 332 to 300, while the USA remained the top region with 413 billionaires. China and Russia have 115 and 101 billionaires respectively, with Moscow now home to more billionaires than any other city in the world.

 

Filed under:Mobile  Tagged with: • • • • • • • • • • • • • • •
 
0 Comments
Leave A Response

Carlos Slim to invest $3.6 billion in Mexico in 2011

On 02.02.11, In Mobile, By Editor

Mexican billionaire Carlos Slim has announced that companies he control will invest US$3.62 billion in Mexico this year, including significant amounts in infrastructure, mining and telecommunications.

According to reports, the Mexican billionaire, who controls Latin American mobile giant America Movil, will invest around US$820 million in the group, while a further US$820 million is expected to be set aside for Mexican fixed line incumbent Telefonos de Mexico (Telmex).

With Telmex still awaiting regulatory approval to offer television services of its own, it currently offers billing services for direct-to-home satellite company DISH; delays in allowing the operator to enter the TV sector stem from the government’s concerns that competition in the market could be hampered should such approval be granted.

The report notes that in response to queries regarding whether Slim could consider acquiring a stake in the satellite TV provider the executive noted that they are not focused on that, they are waiting (for the authorization) to offer triple-play.

Filed under:Mobile  Tagged with: • • • • • • • • • • •
 
0 Comments
Leave A Response

America Movil give puppies in a raffle for Colombian customers

On 01.05.11, In Mobile, By Editor

America Movil SAB, the mobile-phone carrier controlled by billionaire Carlos Slim, is giving away 200 puppies in a raffle for Colombian customers, drawing criticism from People for the Ethical Treatment of Animals.

According to Martin Mersereau, Director of the animal-rights group’s emergency response division,  unless families who win these puppies spent months and months deliberating as to whether or not could make good homes for these animals, they have no business having them.

According to the website of its Comcel unit, America Movil, the biggest wireless company in Latin America, is registering buyers of LG Electronics Inc. phones for the raffle through Jan. 15. The dogs, provided by breeder Cachorros de San Luis, will be healthy and immunized. They include pugs, beagles, boxers, shih tzus and labradors.

Earlier last year, Mexico City-based America Movil had 28.8 million wireless subscribers in Colombia and Panama, or 13% of its total customer base across Latin America, the U.S. and the Caribbean.

According to Mersereau, Comcel told Norfolk, Virginia-based PETA last month that while it wouldn’t offer such promotions in the future, the company planned to continue with the current puppy raffle. The company is glad that Comcel vowed not to do this in the future, but there are 200 lives at stake right now.

Filed under:Mobile  Tagged with: • • • • • • • • • • • • • • •
 
0 Comments
Leave A Response

Telmex profit plunges in Q3

On 10.27.10, In Mobile, By Editor

Tel©fonos de Mexico, Mexico’s largest fixed-line telephone company owned by billionaire Carlos Slim has reported its Q3 results. The company saw 21.5% fall in profits as they face stiff competition from cable and mobile operators.

According to the company, net profits between July and September were US$306 million, even lower than analysts’ forecasts, which were for a drop of just over 19%.

In a statement, Telmex reported that its number of fixed lines fell 1.7 million during the past year to September to 15.6 million subscribers. That loss still left the company controlling 78.7% of Mexico’s fixed phone lines. Total sales during the quarter were US$2.29 billion, down 3.2% on the same quarter last year.

As per the analysts, Telmex faces stiffer competition from cable companies in Mexico, which offer their customers triple play packages of telephone, television and internet access.

In its statement on Monday, Telmex complained that the restrictions were depriving customers of the benefits of so-called convergence of technologies. This effect is delaying the development of the information society in the country.

Telmex confirmed that it had added 220,000 broadband subscribers between July and September to bring the total number to 7.3 million. During the same period last year, the company had 6.4 million broadband subscribers.

Filed under:Mobile  Tagged with: • • • • • • •
 
0 Comments
Leave A Response

Portugal Telecom might accept Telefonica offer if bid rises by $7b

On 05.28.10, In Mobile, By Editor

www.WirelessFederation.com/news: Portugal telecom has signaled that it might accept more than the 5.7 billion euros ($6.9 billion) on offer, thus bringing Telefonica SA an inch closer to clinching the purchase of the Portuguese company’s stake in their Brazilian joint venture. Earlier the company had described the bid as low and opportunistic and before that it called its stake in Vivo Participacoes SA, Brazil’s largest wireless operator, strategic, suggesting a sale wouldn’t be considered.

Telefonica Chairman Cesar Alierta has been trying to merge Vivo with Telecomunicacoes de Sao Paulo SA, or Telesp, the Spanish company’s fixed-line unit in Brazil and for this purpose; it has been trying to gain control of it since at least 2006. Telefonica even threatened to curb Portugal Telecom’s ability to pay dividends, seeking to force it to the negotiating table.

According to Chief Executive Officer Zeinal Bava yesterday, the current valuation Telefonica is putting on the Vivo asset is low, and it think it’s opportunistic, clearly taking advantage of the fact that southern Europe is having one of its worst crisis for the last three decades. However, even if Telefonica raise the price, taking over Vivo will be an uphill task. Telefonica is facing rivals in the form of Vivendi SA and America Movil, controlled by Mexican billionaire Carlos Slim, in Brazil, where it is seeking growth as demand at home cools.

Depending upon the performance by Vivo in 2009, Brasilcel is due to pay a dividend of €111m each to Telefonica and Portugal Telecom this year. Vivo had 30 percent of Brazil’s 179 million wireless subscriptions at the end of March and Vivo has driven revenue growth for Portugal Telecom as growth in Europe slows and competition increases at home.
In case the offer fails Portugal Telecom’s ability to secure Vivo dividend payments via Brasilcel might be blocked by Telefonica and this move has been called attempted blackmail by Portugal telecom.

Filed under:Mobile  Tagged with: • • • • • • • • • • •
 
0 Comments
Leave A Response

Carlos Slim spokesperson denies talks with Portugal Telecom

On 05.28.10, In Mobile, By Editor

www.WirelessFederation.com/news: Mexican billionaire and telecoms tycoon Carlos Slim’s spokesperson has rebuffed reports that Slim’s telecom company is in talks with the management and shareholders of Portugal Telecom to fend off a bid for the Portuguese company’s Brazilian wireless unit by Telefonica SA. According to Arturo Elias Ayub, the company is not talking to Portugal Telecom and has no interest in taking a relevant participation in Portugal Telecom; neither is it trying to block the Telefonica deal.

It has been reported by the local media that Slim owning less than 5% of Portugal Telecom has been in talks with Banco Espirito Santo, one of Portugal Telecom’s key shareholders, about how to block Telefonica’s EUR5.7 billion bid for its stake in Vivo Participacoes SA. Telefonica has been trying to merge Vivo with Telecomunicacoes de Sao Paulo SA, or Telesp, the Spanish company’s fixed-line unit in Brazil and for this purpose; it has been trying to gain control of it since at least 2006. Telefonica even threatened to curb Portugal Telecom’s ability to pay dividends, seeking to force it to the negotiating table.

Portugal Telecom on the other hand had described the bid as low and opportunistic and before that it called its stake in Vivo Participacoes SA, Brazil’s largest wireless operator, strategic, suggesting a sale wouldn’t be considered.
Slim owns America Movil SAB which is the largest mobile operator in the region with just over 206 million wireless subscribers in 17 countries in the Americas and also controls Mexico’s biggest fixed-line phone company Telefonos de Mexico SAB and South American fixed-line carrier Telmex Internacional SAB, or Telint.

Telefonica Spain and Slim directly compete in wireless and fixed-line telecommunications in most of the region’s countries and are arch rivals in Latin America. Cash and share tender had been launched by America Movil on May 11 to acquire holding company Carso Global Telecom SAB and Telint as part of Slim’s plan to consolidate his diverse telecommunications assets in a deal worth about 300 billion pesos ($23 billion).

Filed under:Mobile  Tagged with: • • • • • • • • • • • • • •
 
0 Comments
Leave A Response

Carlos Slim plans to merge Brazilian unit to cut costs

On 05.28.10, In Mobile, By Editor

www.WirelessFederation.com/news: Brazilian fixed line and mobile businesses has been planned to be merged by Mexican tycoon Carlos Slim in a bid to cut costs. Under the plan, the fixed telephony division Embratel will be amalgamated with mobile arm Telecom Americas (Claro) with the local unit of America Movil possibly within the next few months.

Jose Formoso Martinez, the current CEO at Embratel, could be appointed the head of the enlarged entity. Claro’s chief executive Joao Cox is also in the race.

The financial results of the Brazilian operations has become a matter of concern for Carlos Slim and he views the structural merger as core to the group’s ability to stave off competition from the likes of Paris-based media and telecoms conglomerate Vivendi, Telefonica of Spain and Portugal Telecom.

Filed under:Mobile  Tagged with: • • • • • • • • • •
 
0 Comments
Leave A Response

America Movil plans to close Carso, Telmex takeovers soon (Latin America)

On 03.26.10, In Mobile, By Editor

www.WirelessFederation.com/news: The proposed acquisitions of Telmex Internacional SAB and Carso Global Telecom SAB has been planned to be closed by America Movil SAB in the month of May, America Movil is Latin America’s largest mobile operator. The tender offers for the two companies will be launched by America Movil on April 7 and May 5.

With a deal creating a telecom giant with about 250 million subscribers in the Americas, Mexican billionaire Carlos Slim’s has planned to consolidate his diverse telecommunications holdings under America Movil through this tender.
2.0474 shares has been offered by the telco for every share held in Carso Global Telecom, giving it a 59.4% stake in Mexico’s largest fixed-line carrier Telefonos de Mexico SAB and 60.7% of South American carrier Telmex Internacional.

The rest of Telmex Internacional is also seeked to be acquired by the wireless giant by offering minority shareholders 0.373 America Movil share or MXN11.66 in cash, for each Telmex Internacional share.

82.48 billion pesos ($6.55 billion) would have to be paid by telco in the event all of Telmex Internacional’s minority shareholders were to opt for cash. Delisting of Carso Global Telecom and Telmex Internacional from the stock exchanges is also in America Movil’s plan while Telmex will remain a stand-alone, publicly traded company.

Filed under:Mobile  Tagged with: • • • • • • • • •
 
0 Comments
Leave A Response
Go To Top »