BEST CORPORATE ISSUER
América Móvil (AMX) is a frequent star of LatAm issuance, beloved by investors despite its razor thin spread and feared by bankers for its rigorous execution standards.
The incorporation last
year of fellow Carlos Slim companies Carso Global Telecom and
Telmex International streamlined the family of telecom
companies and gave AMX even more leverage to price bonds on
The Mexico-based wireless operator announced in January the
plan to absorb the units, improving its competitive edge versus
other international players. It aimed to boost its ability to
deliver new data by leveraging fixed lines, and create what the
company says is the eighth biggest telecom globally by revenue
and third by market cap.
AMX swapped Carso Global Telecom shares at 2.05 AMX shares
for every CGT share, giving AMX the 59.4% stake in Telmex that
belongs to CGT and a 60.7% stake in Telmex International
(Telint). It tendered publicly for the outstanding shares, and
as of December 1 it had more than 99% of GCT, which is
delisted, and 94.8% of Telint. It was working...
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