America Movil to invest US$150mn in CTI
Bnamericas Published: Friday, October 03, 2003
Mexican holding company America Movil (NYSE: AMX) plans to invest US$150mn to improve the infrastructure of its recently acquired Argentine mobile operator CTI, Argentine daily La Nacion reported. America Movil's main shareholder, Carlos Slim, visited Argentina on Thursday and told President Nestor Kirchner that he would continue to invest in the country. In partnership with Argentine industrial group Techint, America Movil acquired an option for 49% of CTI in July bringing Slim's investments in Argentina to US$400mn, according to local press. Slim's other Argentine investments include stakes in broadcasting group CIE Rock & Pop, event ticketing firm Ticket Master, Buenos Aires city zoo and the opera house.
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