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Mobile & Wireless

BlackRock ups stake in America Movil to 5%

Friday 1 February 2013 | 07:02 CET | News

US investment company BlackRock has announced it now holds a 5 percent equity stake in mobile operator America Movil, after adding shares through investing activity by its funds. The holdings amounted to 3.8 billion of America Movil’s L shares at the end of 2012, Bloomberg reports, citing a US regulatory filing. BlackRock previously had disclosed having about 1.3 billion L shares through various funds.

Carlos Slim controls 43 percent of America Movil. BlackRock says it now holds about 7.4 percent of the L shares, the biggest class, which represents about two-thirds of the total outstanding stock. BlackRock’s stake in America Movil’s total equity now exceeds 5 percent, said Bobbie Collins, a spokeswoman for the investor.\

The holding makes BlackRock the second-biggest outside investor in America Movil, after AT&T with a stake of about 10 percent, based on its ownership of Class L and AA shares.



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Categories: Mobile & Wireless
Companies: America Movil
Countries: Latin America
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