Carlos Slim to Dismantle Mexican Empire

[ukipa]

Carlos Slim to Dismantle Mexican Empire

Billionaire Carlos Slim is bowing to imminent antitrust legislation by planning a breakup of America Movil SAB (AMXL)’s phone operations in Mexico rather than risk profit-crushing restrictions if his company did nothing to curb its dominance.

America Movil, the Americas’ largest operator with 272 million wireless subscribers, decided to divest some assets to a newly formed independent company, reducing its market share in Mexican landlines and mobile phones to below 50 percent to appease regulators, America Movil said yesterday in a filing. Slim’s carrier will also separate its wireless towers from the rest of the business and will renounce its rights to acquire control of satellite-TV provider Dish Mexico. Slim and his family hold 57 percent of America Movil.

Read full article...

www.bloomberg.com/news/2014-07-08/america-movil-to-break-up-mexico-unit-amid-regulatory-pressure.html

[Sapphire Capital]

doubt he looses a penny on that, more likely to make a bunch

[ukipa]

Jul 10, 2014 0:24:58 GMT 4 Sapphire Capital said:

doubt he looses a penny on that, more likely to make a bunch

The man is a wise investor. Hence, his current position as being #1 in the list of "richest men on earth."