América Móvil

América Móvil is a Mexican telecommunications corporation headquartered in Mexico City, Mexico. It is the seventh largest mobile network operator in terms of equity subscribers and one of the largest corporations in the world. América Móvil is a Forbes Global 2000 company. As of Q1, 2019, América Móvil had 277.4 million wireless subscribers, and 84.3 million fixed revenue generating units (“RGUs”, consisting of fixed voice, fixed data and Pay TV units).[3]

América Móvil, S.A.B. de C.V
TypeAnónima Bursátil de Capital Variable
BMV: AMX
NYSE: AMX
NYSE: AMOV
BMAD: AMXL
IndustryTelecommunications
Founded2000 (2000)
HeadquartersPlaza Carso, Mexico City, Mexico
Area served
Americas, Europe
Key people
Carlos Slim Helú (Chairman)
Daniel Hajj Aboumrad, (CEO)
ProductsFixed-line
Mobile phone
Broadband,
Digital television
IPTV
Digital Media
Internet of things
Revenue US$52.747 billion (2018)[1]
US$7.090 billion (2018)[1]
US$2.770 billion (2018)[1]
Number of employees
189,448 (2018)[1]
DivisionsCarso Global Telecom
Global Hitss
SubsidiariesClaro
DLA Inc.
Embratel
KPN (16.1%)
NET
Nextel Brazil[2]
Nuestra Visión
Sección Amarilla
Sercotel
Speedy Movil
Telcel
Telekom Austria Group (59.7%)
Telmex
Telnor
Telvista
TracFone Wireless
Uno TV
Websitewww.americamovil.com

Company information

The company's world headquarters are located in Mexico City, Mexico. Its Mexican subsidiary Telcel is the largest mobile operator in that country, commanding a market share in excess of 70%. The company operates under its Claro subsidiaries in many countries in Latin America and the Caribbean, these include Jamaica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, Peru, Argentina, Uruguay, Chile, Paraguay, Puerto Rico, Colombia and Ecuador. In Brazil it also operates Claro and other subsidiary Embratel. It owns 14,86% of KPN in the Netherlands and has done a bid on 100% of the shares. The group has also fully consolidated the Telekom Austria Group into its financial reporting, owning 59.7% of its shares and using the Austrian operator to expand América Móvil's European network.[4]

América Móvil acquired 100% of Jamaican mobile operator Oceanic Digital, under the brand name MiPhone in August 2007.[5] On November 15, 2005, the company signed an international pact with Ooredoo to jointly deliver various international services.

In the United States, it operates through its subsidiary TracFone Wireless, Inc. under the brands TracFone, NET10 Wireless, Straight Talk, SIMPLE Mobile, Total Wireless, Telcel América, and Page Plus Cellular. It is one of the leading national pre-paid wireless service providers in the U.S. In mid-September 2020, AM agreed to sell Tracfone to Verizon, with the deal expected to close by 2021 .[6][7][8]

As of December 2010, the company was one of the top four telecommunications companies in the world and boasted 290,000 kilometres of Fiber-optic cable, making it the largest in infrastructure.[9]

As of April 2012, América Móvil registered an annual profit of $5 billion. With assets of over $67 billion (As of April 2012), the company is currently the largest company in Mexico by assets with Banorte very closely behind them with assets of over $59 billion (As of April 2012) It is highly likely that the company will buy a group of companies with at least $29 billion in assets in 2013 in the pension, insurance, payroll, currency exchange and mutual funds industries to secure their position as the most asset rich company in Mexico. And with a market value of over $93 billion (As of April 2012), the company is currently the most valuable in Mexico, more than the next three most valuable companies combined.

In 2018, the company's chief executive Daniel Hajj announced that América Móvil is seeking a TV license in Mexico.[10]

Alleged cost

In 2012, the OECD estimated that lack of competition in telecommunications had cost the economy of Mexico $25 billion per year.[11][12]

Telmex acquisition

In January 2010, it made an offer to buy Carso Telecom and Telmex International in order to better compete against Spain's Telefonica and Malaysia's Telekom Malaysia. The acquisition was approved by the CFC (Comisión Federal de Competencia) Antitrust Office in Mexico on February 11, 2010.

América Móvil had once been Telmex' mobile division, but since its spinoff in 2001 it had grown far larger than its former parent.[13]

América Móvil global wireless customers

As of Q1 2019:[3]

North America
Central America and The Caribbean
South America
Austria and CEE 20.908 million

Global wireless customers 277.425 million

América Móvil wireless technology by country

South America

Caribbean

Central America

North America

Europe

KPN acquisition attempt

In early August 2013, América Móvil offered to take over the remaining 70% stake of the Dutch telecommunications company KPN for 7.2 billion Euros ($9.49 billion). América Móvil currently owns close to 30% of KPN. The Dutch government has warned against this acquisition quoting it as a threat to national security. The Dutch government's intervention comes after the council representing employees of KPN urged authorities to halt América Móvil's planned bid.[15]

See also

References
  1. "2018 Annual report Form 20-F" (PDF). América Móvil. Retrieved May 10, 2019.
  2. Paola Bertolini. "Nextel Brasil pierde en primer trimestre mientras llega su nuevo dueño: América Móvil" (in Spanish). Forbes México.
  3. "Q1 2019 Quarterly Report | América Móvil" (PDF). www.americamovil.com. Archived (PDF) from the original on 2019-05-02. Retrieved 2019-05-10.
  4. "Telekom Austria Aktionärsstruktur". Retrieved 23 Jun 2015.
  5. Business News Americas staff reporter. "AMX buys Jamaican operator Oceanic Digital". BNamericas.
  6. Mihalcik, Carrie (2020-09-14). "Verizon to acquire prepaid mobile provider Tracfone". CNET. Retrieved 2020-09-14.
  7. "Verizon buys pre-paid phone provider Tracfone". www.msn.com. Retrieved 2020-09-14.
  8. Schoon, Ben (2020-09-14). "Verizon to acquire Tracfone in $6 billion deal". 9to5Google. Retrieved 2020-09-14.
  9. "Buzz in the air as AMX comes of age". Financial Times.
  10. Love, Julia. "America Movil still wants TV license in Mexico, CEO says". U.S. Retrieved 2018-04-26.
  11. "Telecoms reform would boost competition and growth in Mexico, says OECD". OECD. January 30, 2012. Retrieved March 12, 2013. The “OECD Review of Telecommunication Policy and Regulation in Mexico” says that the lack of competition has led to extremely high prices for consumers and businesses and slowed the take-up of new services.
  12. Stryszowska, Marta, (2012), "Estimation of Loss in Consumer Surplus Resulting from Excessive Pricing of Telecommunication Services in Mexico", OECD Digital Economy Papers, No. 191, Éditions OCDE. Accessed 16 May 2014.
  13. "Home page | América Móvil" (PDF). www.americamovil.com. Archived from the original (PDF) on 2016-08-10. Retrieved 2017-05-28.
  14. Regulamento comunicado
  15. Dolia Estevez (13 September 2013). "Dutch Government Issues Warning On Takeover Of Telecom Firm KPN By Mexican Billionaire Carlos Slim". Forbes.
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