America Movil to bid for remaining 2.79% Telmex stake

Nieuws Breedband Mexico 17 AUG 2012
America Movil to bid for remaining 2.79% Telmex stake

America Movil seeks to complete the process to delist its Mexican fixed-line unit Telmex by offering to buy the remaining 2.79 percent of the Mexican company's shares still outstanding, Reuters reports. America Movil is offering MXN 10.2250 per share.

America Movil launched an offer to buy 40 percent of Telmex that it did not already own in August 2011, offering MXN 10.50 per share. That offer concluded in November. America Movil held 97.2 percent of Telmex's stock at the end of April and said in a US regulatory filing that it planned to delist Telmex from exchanges in Mexico and New York.

Categories:

Vast

Companies:

America Movil,  Telmex

Countries:

Mexico

Tags:

Shareholders & subsidiaries, Wholesale, M&A buyouts & divestments

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