InfoAnda - Slim's America Movil takes final consolidation step |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Obama to name Intel CEO to White House jobs panel | 18 February 2011
For most Cambodians, 'justice' has little meaning | 9 August 2010
Swiss engineer completes first world tour in solar-powered car | 19 December 2008

China observes day of mourning for mudslide victims | 15 August 2010

Forum Views () Forum Replies ()

Read more with google mobile : Slim's America Movil takes final consolidation step |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Green Business Legal Deals Earnings Summits Business Video Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia Afghan Journal Africa Journal India Insight Global News Journal Pakistan: Now or Never? World Video Politics Politics Home Front Row Washington Politics Video Technology Technology Home MediaFile Science Tech Video Opinion Opinion Home Chrystia Freeland Felix Salmon Breakingviews George Chen Bernd Debusmann Gregg Easterbrook James Pethokoukis James Saft John Wasik Christopher Whalen Ian Bremmer Mohamed El-Erian Lawrence Summers The Great Debate Unstructured Finance Newsmaker MuniLand Money Money Home Analyst Research Global Investing MuniLand Reuters Money Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Life & Culture Health Sports Arts Faithworld Business Traveler Left Field Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read Putin says U.S. is "parasite" on global economy 01 Aug 2011 Body of missing New Hampshire girl found in river 01 Aug 2011 WRAPUP 11-House approves U.S. debt deal a day before deadline 01 Aug 2011 Serial killer Sowell weeps during sentencing phase of trial 01 Aug 2011 Rhode Island's Central Falls files for bankruptcy 01 Aug 2011 Discussed 215 Vote delayed on debt bill as default date looms 167 Debt compromise eyed under deadline squeeze 160 Putin says U.S. is a ”parasite” on global economy Watched Scientists warn of "Planet of the Apes" scenario Sat, Jul 30 2011 House votes 269 to 161 to raise debt ceiling 5:03am EDT Japan's quake brought back to life on giant globe Mon, Aug 1 2011 Slim's America Movil takes final consolidation step Tweet Share this Email Print Related News CORRECTED - UPDATE 2-Slim's America Movil takes final consolidation step Mon, Aug 1 2011 UPDATE 5-Microsoft Windows fizzles as PC fears loom Thu, Jul 21 2011 UPDATE 3-Kansas City Southern Q2 profit rises Thu, Jul 21 2011 Microsoft profit beats Street, Windows fizzle Thu, Jul 21 2011 Analysis & Opinion The myth of the irrational Murdoch Deals wrap: Shell games Related Topics Technology » Media » Mexican tycoon Carlos Slim arrives to attend the opening of the Soumaya museum in Mexico City March 1, 2011. Credit: Reuters/Henry Romero MEXICO CITY | Mon Aug 1, 2011 9:02pm EDT MEXICO CITY (Reuters) - Billionaire Carlos Slim moved on Monday to bring his whole telecommunications empire under one roof when America Movil launched an offer to buy the rest of fixed-line phone subsidiary Telefonos de Mexico. America Movil already owns almost 60 percent of Telmex after a consolidation last year, and is now seeking to take the remaining 40 percent in a deal worth about $6.5 billion based on the current market capitalization of Telmex. The company said it has ample resources to finance the Telmex deal. "We had a good cash position and we also have some credit lines," Chief Financial Officer Carlos Garcia Moreno told Reuters. "We are in a very comfortable position from a liquidity perspective." The deal is subject to various regulatory approvals, the company said in a statement, and the closing date is not known. Telmex shares ended up 7.69 percent at 10.22 pesos on the news that America Movil will pay a premium for the stock, while shares in America Movil -- which have been battered this year by a battle with regulators -- sank almost 2 percent. Slim, the world's richest man, has been hit by competition probes into his phone companies over the rates he charges competitors to use his network. One of the biggest blows came in May, when the government crushed Telmex's long-coveted bid to offer television services in Mexico. The move comes just over a year after America Movil acquired Telmex's international unit and increased its stake in Telmex itself as the mobile phone giant swallowed the underperforming companies. America Movil said it would delist Telmex if the bid was successful. "I think the primary rationale for doing this is that Telmex as a stock has had very little in the way of equity or institutional interest for a while," said analyst Christopher King with Stifel Nicolaus. He said he did not see any operational changes or issues from the deal, although delisting Telmex shares or shutting down investor relations and corporate finance within the company would cut costs. Shortly after the announcement, big shareholder AT&T said it would sell its Telmex shares and said the America Movil offer would value its stake at around $1.37 billion. According to company data from the end of February, AT&T held 19.4 percent of Telmex's AA shares. Thomson Reuters data show BlackRock Inc, the world's largest money manager, holds a 1.6 percent stake of L shares and Vanguard Group another 1.2 percent of L shares. America Movil, which had about $7.5 billion in cash and securities at the end of June, said it will pay 10.50 pesos ($0.90) a share for Telmex, a premium of 11.1 percent to its share price over the last 30 days. BUMPS ON THE ROAD Like other fixed-line phone operators, Telmex has been struggling amid competition from Internet-based call providers and mobile phone companies, although its Internet business keeps growing quarter after quarter. Analyst Valeria Romo from brokerage Monex said the move would be negative for America Movil in the short term but more positive in the future. "I think it's negative news for America Movil, which already owned 59 percent of Telmex ... America Movil would absorb the whole loss that Telmex carries," she said. "In the long term being the full owner of Telmex will mean it can exploit 4G technology." Telmex reported a lower second-quarter profit last month, hurt by lower revenues as call traffic declined. Just recently, Telmex's Chief Financial Officer Adolfo Cerezo announced his retirement from the company after a 33 year-long career with the Slim giant. (Reporting by Elinor Comlay and Cyntia Barrera Diaz, editing by Bernard Orr, Phil Berlowitz) Technology Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Mobile Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Contact Us Advertise With Us Connect with Reuters Twitter Facebook LinkedIn Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electric trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Tuesday, 2 August 2011
Wideout Randy Moss retires after 13 NFL seasons
Suicide attack on African Union peacekeeping forces in Mogadishu
Israeli, Lebanese soldiers exchange fire on border
Pence In Pennsylvania: Phils excited about new acquisition
Fantasia Barrino announces pregnancy at concert
Fighting kills more than 20 in Gedo region of Somalia
FBI eyes new evidence in unsolved D.B. Cooper plane hijack
Kat Von D not editing out any of her romance with Jesse James on "L.A. Ink"
Bedouin face opportunity gulf in Negev
Gunmen assassinate Somali lawmaker
Hama assault into second day as U.N. revives Syria debate |
Libyans start Ramadan fast amid conflict, divisions |
Putin says U.S. is parasite on global economy |
Suicide bombers storm Afghan guesthouse, four killed |
Giants sign running back Ahmad Bradshaw to four-year deal
Israel PM ready to discuss border package: official |
Asdrubal Cabrera homers, knocks in four as Tribe top Red Sox
Chelios, Tkachuk, Suter among U.S. Hockey Hall of Fame inductees
Stanton lifts Marlins to series-opening win over Mets
Up to six more Somalia regions may face famine: U.N. |
Browns nullify Bunkley trade with Eagles over medical concerns
Second Season of "The Voice" to debut following Super Bowl
Australia uses YouTube to deter boatpeople |
Beavis and Butt-Head to use Licensed Videos
China police shoot dead two suspects in Xinjiang attacks |
Adam Levine to produce karaoke bar sitcom
Cuba revising travel policies: Raul Castro |
Pakistan seeks clear terms of engagement with U.S. |
FBI divers recover 7.5 tons cocaine from sunken sub; Haul worth $180 Million
Adam Johnson of Oswego , IL. leads Teen Masters bowling championships
Government hankers for hackers |
Samsung delays Australia tablet launch on Apple suit |
Android conquers almost 50 percent of smartphone market |
Sony's video game unit buys Sucker Punch studio |
Expert: networking defendant challenges wiretap |
Huawei hires ex-UK info chief as global cyber security |
Synchronoss Q2 beats Wall Street, ups FY11 outlook |
Google buys daily deal aggregator The Dealmap |
Slim's America Movil takes final consolidation step |
Tech firm says News International deleted emails |
Katharine Hepburn's former estate on sale for $28 million |
NBC calls Playboy Club a fun soap opera |
Kings of Leon cancel U.S. tour, Followill exhausted |
Cowboys edge Smurfs to take weekend box office |
Judge extends order against Halle Berry intruder |
Fantasia reveals she is pregnant |
Cuba's Creole Choir to qawwali at surging WOMAD 2011 |
Analysis: Pakistan relying too much on China against U.S. |
Special report: In Breivik's past, few clues to troubled future |
Mubarak: Egypt's ruler for 30 years now facing trial |
Raiders sign linebacker Kamerion Wimbley to five-year deal
Saudi billionaire to build world's tallest tower |
Senior figure held in News Corp hacking probe |
Five abducted Bangladeshis freed in Afghanistan
Storms churning in Atlantic, Pacific oceans
Pakistan, U.S. try to narrow differences as officials meet |
Arabs take credit for "Israeli Spring"
Even small amount of exercise good for heart
Timeline: Phone hacking scandal hits News Corp |
America's most expensive home is a ranch.
Bangladesh bus crash kills 16, hurts 50
Gazan defies handicap to live life to fullest
Giants give defensive end Osi Umenyiora permission to seek trade
Drought has Kenyans running on empty
Exclusive: Nine Google complainants in EU probe |
U.S. broadband closer to advertised speeds: study |
EA Sports tacks on fees for early access to games |
Russian minister calls for limits on the Internet |
Experts design soft, strong robot for healthcare facilities |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01