February 11, 2021 |
Mexican telecommunications company América Móvil said Tuesday that it received board approval to spin off its mobile phone towers in Latin America into a separate business.
"This operation will maximize the infrastructure's value," América Móvil said in a securities filing, adding that it expects to complete this year.
It also said the new business will operate independently and focus exclusively on "developing, building and sharing telecommunications towers for wireless services."
Mexican telco says the carve-out will "maximize" the value of its infrastructure assets