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América Móvil: Sitios Latam has 29,090 telecommunication towers

América Móvil, a company that provides telecommunications services in 23 countries, informed that the company Sitios Latam has 29,090 telecommunications towers.

These towers can be accessed and used by all wireless telecommunications service operators in the Latin American countries where it has towers and operates: Argentina, Chile, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Puerto Rico, Uruguay and Brazil (where 39 percent of the towers are located).

Results of América Móvil

To understand the fact: on February 9, 2021, the Board of Directors of América Móvil approved a reorganization plan with the purpose of transferring the telecommunications towers owned by its foreign operators to a new group of companies that would be headed by the company spun off by América Móvil, which was named Sitios Latinoamérica, S.A.B. de C.V. (Sitios Latam).

In this way, the latter company would have a direct/indirect participation in the capital stock of entities that would be dedicated exclusively to the construction, operation and commercialization of towers and other structures for the installation of telecommunications equipment for the provision of wireless services.

América Móvil

On August 8, 2022, the company announced that it met the conditions and completed the necessary preliminary steps to spin off the telecommunications towers and other associated infrastructure deployed in certain Latin American countries.

Therefore, on this date, the spin-off of the company has taken effect, and certain assets, liabilities and capital have been transferred in favor of the new company.

The National Banking and Securities Commission authorized the registration of Sitios Latam’s shares, which allowed the completion of its listing process as a public company on September 29, 2022.

On the financial front, América Móvil’s net debt, including leases, totaled Ps. 522.6 billion at the end of 2022, an increase of Ps. 16.3 billion during the year.

Excluding leases, the company’s net debt was Ps. 388.5 billion and decreased Ps. 19.2 billion from the 2021 year-end figure.

The net debt figure reflects the deconsolidation of Ps. 47.2 billion of debt obligations that were transferred to Sitios Latam with its spin-off in August 2022 and Ps. 6 billion of debt at the Claro Chile level following the strategic alliance with Liberty Latin America last October.

 

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