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General

America Movil to buy back AT&T stake

Monday 30 June 2014 | 08:43 CET | News
America Movil said it has agreed to buy back AT&T's 8.27 percent stake in the company. Its shareholders Inmobiliaria Carso and Control Empresarial de Capitales will buy the shares from AT&T International for USD 5.57 billion. AT&T said it expects to realise a profit of 8-10 cents a share from the sale, depending on the final tax on the sale. AT&T said earlier it would exit the investment in order to secure regulatory approval for its proposed takeover of DirecTV. Americal Movil competes against DirecTV in several markets in Latin America. AT&T has partnered with AMX for over 20 years. 

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Categories: General
Companies: America Movil / DirecTV
Countries: Latin America
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