America Movil plans to launch a tender offer for all of the outstanding shares of Telmex that it does not already own. The tender offer includes those shares that are represented by American Depositary Shares (ADSs). If all shareholders tender, America Movil would acquire 40.04 percent of the outstanding Telmex shares and would own 100 percent of the outstanding Telmex capital stock upon completion of the offer. America Movil offers MXN 10.50 per share payable in cash. If America Movil acquires a sufficient number of shares, it intends to delist Telmex from the various stock markets on which its shares are listed. The tender offer will be subject to customary conditions, including the receipt of regulatory authorizations.
