América Móvil Moves In
The Mexican cellular operator has gobbled up competitors in South America in a bid to be a top player in every market where it operates.
América Móvil, Mexico's biggest cell phone
company, is beginning to fulfill its ambition to be Latin
America's largest wireless operator. The listed company, spun
off from Mexico's dominant phone company Teléfonos de
México (Telmex) in September 2000, has spent around $1
billion this year buying wireless companies in Brazil,
Colombia, Ecuador and Guatemala. It posted a 43.2% increase in
first half revenues, which rose to $3.51 billion, and pretax
income of around $882 million.
Its latest acquisition, the $625 million cash purchase of
São Paulo-based wireless operator BCP at the end of
August, makes América Móvil Brazil's
second-largest mobile operator, with 6.7 million subscribers.
The purchase gives it 1.7 million clients in São Paulo,
Brazil's wealthiest and most...
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