América Móvil to spin-off its telecommunications towers
Statement from América Móvil.
Mexico City, February 9, 2021. América Móvil, S.A.B. de C.V. ("AMX" or “América Móvil”) [BMV: AMX] [NYSE: AMX | AMOV], informs that today its Board of Directors approved a plan to spin-off from América Móvil the telecommunications towers and other related passive infrastructure in Latin American countries where it currently operates.
This operation will maximize the infrastructure’s value, as the resulting entities will be independent from AMX, with their own management and personnel, exclusively focused in developing, building and sharing telecommunications towers for wireless services.
The execution of the reorganization plan will comply with applicable requirements under the laws of each jurisdiction, and will be subject to obtaining required approvals, including the approval by the shareholders’ meetings of AMX.
AMX expects to implement the reorganization during 2021.
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