America Movil to buy back AT&T stake

News General Latin America and the Caribbean 30 JUN 2014
America Movil to buy back AT&T stake
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. 

Categories:

General

Companies:

America Movil,  DirecTV

Regions:

Latin America and the Caribbean

Tags:

M&A buyouts & divestments

Related Articles

UNITED STATES 27 JUL 2015

AT&T completes acquisition of DirecTV

AT&T has completed its acquisition of DirecTV, following approval from the FCC. The acquisition of the satellite TV provider makes AT&T the largest pay-TV operator in the US with a total 19 million customers. The company will build off DirecTV's customer base to expand its broadband and telephony base, offering bundles of TV, broadband and mobile services. The deal also expands AT&T's growing presence in LatinAmerica with over 191 million DirecTV cstomers there. AT&T announced that John Stankey will be CEO

UNITED STATES 23 OCT 2014

AT&T lowers FY revenue outlook

AT&T has lowered its annual revenue growth outlook to 3-4 percent, from 5 percent previously. The company blamed the downgrade on divestments, such as its Connecticut wireline assets sold to Frontier, an exit from low-margin wireline wholesale businesses and fewer customer additions for AT&T Next, its handset upgrade programme. For the third quarter, the US operator posted revenues up 2.5 percent year-on-year to USD 33.0 billion. Operating profit fell to USD 5.4 billion from USD 6.2 billion a year ago, hurt

UNITED STATES 24 JUL 2014

AT&T growth slows in Q2 on shift in mobile model

AT&T reported a drop in second-quarter earnings, to USD 3.5 billion or 68 cents a share, from USD 3.8 billion or 71 cents a share a year earlier. Revenues were up just 1.6 percent to USD 32.6 billion, and a rise in operating costs led to a drop in the operating margin to 17.2 percent from 19.1 a year earlier. AT&T still maintained its outlook for 5 percent revenue growth over the full year, as well as stable margins and low mid-single digit growth in EPS. It expects improved results later from mobile custom

BRAZIL 22 JUL 2014

Brazilian regulator approves AT&T-DirecTV deal

Brazilian antitrust agency Cade has approved, without restrictions, AT&T's acquisition of DirecTV. In May, AT&T announced a deal to purchase DirecTV for USD 48.5 billion. In order to have the transaction approved by regulators in the countries where both companies have operations, AT&T agreed to sell its 8.3 percent stake in America Movil In Brazil, America Movil owns mobile telephony operator Claro, pay-TV and broadband provider NET and telecoms services provider Embratel. Meanwhile, DirecTV Latin A

LATIN AMERICA AND THE CARIBBEAN 22 JUL 2014

America Movil profit up in Q2 on lower financial costs

America Movil signaled plans to step up investment in networks as its revenue and customer growth started to slow. The company posted second-quarter revenues up 4.0 percent year-on-year to MXN 202.6 billion, while service revenues excluding currency effects increased 5.8 percent. EBITDA rose 2.4 percent to MXN 66.6 billion and increased 4.7 percent at constant exchange rates. Operating profit fell 3.3 percent to MXN 39.2 billion due to higher depreciation and amortisation of investments. Net profit was up 3

MEXICO 14 JUL 2014

America Movil hints at KPN stake sale

America Movil plans to sell an "attractive" cross-section of the company in order to avoid increased regulation in Mexico, its owner Carlos Slim said in an interview with Reuters. "Some people say that we are going to sell the low income customers, but nobody will buy that, we are thinking that we should do it in some transversal way...something that is attractive to buyers," Slim said. The sale needs to be big enough to create space for a "competitor all the way, in all the country," he said. Slim did not

NETHERLANDS 14 JUL 2014

AMX ziet KPN als 'belegging', verkoop tegen juiste prijs

América Móvil ziet Telekom Austria als de poort tot markten in Centraal- en Oost-Europa terwijl de investeringen in KPN door topman Carlos Slim worden gezien als belegging. Slim hintte er in een interview met Reuters tevens op dat het belang van América Móvil in KPN tegen de juiste prijs kan worden verkocht. Het Mexicaanse telecombedrijf maakte in april bekend  dat het alle nog uitstaande aandelen van Telekom Austria wil overnemen terwijl het belang in KPN dit jaar juist werd afgebouwd. América Móvil probee

GLOBAL 8 JUL 2014

AT&T introduces new enhancements to AT&T Toggle

AT&T has announced new enhancements to AT&T Toggle that provide network administrators with enhanced control, employees with more flexibility and organisations with more security when preparing for a bring-your-own-device (BYOD) environment. Recent enhancements to AT&T Toggle include: AT&T Toggle App Ecosystem, seamless transition, emergency response, secure remote access and network security. 

UNITED STATES 1 JUL 2014

AT&T launches mobile charging stations at NYC beaches

At part of AT&T's Street Charge initiative, the company has launched its solar-powered mobile charging stations in six beaches and eight parks across New York City. Visitors to Coney Island and Brighton Beach in Brooklyn, South Beach and Midland Beach in Staten Island, Orchard Beach in the Bronx, and Rockaway Beach in Queens will have access to the new mobile charging stations, each capable of charging six devices at one time. In addition to the beaches, selected in partnership with the New York City Depart

UNITED STATES 30 JUN 2014

AT&T launches purchase programme to support Seattle schools

Running 30 June through 11 September, customers in Seattle who recycle or trade in their eligible devices and purchase an Asus PadFone X will generate an AT&T-funded USD 5 donation (up to USD 25,000 total), to DonorsChoose, a charity that supports projects initiated by public school teachers for classrooms in need. The Asus PadFone X combines both the smartphone and Asis PadFone Station in one device, enabling suers to transition between two screen sizes to fit the task at hand. For those trade-in phones th

MEXICO 24 JUN 2014

Mexico regulator wants say on DirecTV, AT&T merger

Mexico's Federal Telecommunications Institute (IFT) has ordered US companies AT&T and DirecTV not to proceed with their merger until they obtain approval from the Unit for Economic Competition of the regulator, reports El Universal. In May, AT&T announced an agreement to acquire all of DirecTV, paying USD 48 billion for the DirecTV operations in the US and Latin America. The companies expect to close the deal in about 12 months. In Mexico, DirecTV operates in partnership with Televisa Group through pay-TV o

MEXICO 27 MAY 2014

AT&T members step down from America Movil board

America Movil has announced that Michael Viola and Jeffery Scott McElfresh have resigned from their positions of members of the board of directors of America Movil and its subsidiary Telefonos de Mexico (Telmex). Viola and McElfresh were appointed by the holders of common shares pursuant to the shareholders' agreement dated 28 February 2011, entered into by and between AT&T and Inbursa. Additionally, America Movil has informed that it is aware of AT&T's publicly announced intention to eventually divest its

UNITED STATES 19 MAY 2014

AT&T agrees DirecTV takeover for USD 48.5 bln

AT&T has agreed to acquire the satellite pay-TV provider DirecTV for USD 48.5 billion. The acquisition strengthens its TV offering in the US, while also giving it a new growth market with DirecTV's over 18 million customers in Latin America. AT&T will pay USD 95 per share for DirecTV, including USD 28.50 per share in cash and USD 66.50 in AT&T stock. The deal values DirecTV's equity at USD 48.5 billion, while the total transaction is worth USD 67.1 billion including DirecTV's net debt. After the deal, Direc

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.