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General

America Movil to cut capital expenditure by USD 2.5 bln this year

Thursday 22 October 2020 | 12:14 CET | News
America Movil will be slashing its capital expenditure for 2020 from USD 8.5 billion to USD 6 billion due to the impact of Covid-19 lockdowns on its business, said CEO Daniel Hajj following publication of the company's third-quarter earnings. "We are going to reduce the capex from our original number this year because execution in the lockdown was very difficult … We took out projects we don't need and we're going to delay others," said Hajj, according to BN News Americas. The chief executive added that next year's capex is "going to be higher than this year but not as high as previous

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Categories: General
Companies: America Movil
Countries: Latin America
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