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América Móvil’s investments would increase by 8,000 million pesos

América Móvil’s investments would increase by 8,000 million pesos if it obtains a pay television concession in Mexico, the company announced.

“We will invest 8,000 million pesos initially and in addition to the committed investment (from Telcel and Telmex),” said Carlos Slim Domit, president of the company’s board of directors.

Until now, América Móvil provides telecommunications services in 25 countries and occupies a leading position in this sector in Latin America, where it ranks first in the markets for mobile, fixed, broadband and pay television services. in terms of the number of income-generating units (UGI).

The company’s most important subsidiaries are located in Mexico and Brazil.

Together, these subsidiaries represent more than half of the company’s total number of RGUs and have the largest market share in terms of the number of local RGUs.

In addition, as of December 31, 2020, América Móvil had operations in the mobile services, fixed telephony and pay television markets in 16 other countries in the Americas and in seven countries in Central Europe and Eastern Europe.

Slim added that additional investments would go to technology and high-speed fiber optics, among other areas.

América Móvil’s investments

“The story of América Móvil is a story of investment,” Slim said.

The company intends to further develop its current activities and, when opportunities arise, to make strategic acquisitions to continuously increase its number of users, extend its leadership in the provision of integrated telecommunications services in Latin America and the Caribbean and grow in other regions.

According to the company itself, the integrated telecommunications service platforms developed by the company are on a par with the best in the world, allowing it to offer its customers new services and improved communication solutions with higher data transmission speeds, at lower prices. low.

América Móvil continuously invests in its networks to increase its coverage and implement new technologies in order to optimize its capacity.

On September 13, 2020, the company and Verizon Communications entered into a purchase agreement for 100.0% of the shares of TracFone Wireless, a subsidiary of América Móvil, for a purchase price comprised of US$3.125 million in cash and US$3.125 million dollars in common shares representing the capital stock of Verizon.

 

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