AMX Moves Consolidation Forward

AMX Moves Consolidation Forward

Mexico M&A

Telemex’s board has approved America Movil’s previously announced plans to launch a public offer for the 40.04% of Telmex it doesn’t own. AMX will spend up to MXP76.34bn ($6.51bn) in the offer, the last step in an effort to bring all of the Mexican billionaire Carlos Slim’s telecom operations under one roof. AMX is offering MXP10.50 per share for the approximately 7.2m shares, representing what it says is an 11.1% premium over the average share price of the 30 days prior to a

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