Corporate News Blog - America Movil Confirms the Purchase of Spectrum from Grupo MVS
LONDON, UK / ACCESSWIRE / July 11, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Mexico-based America Movil, S. A. B. de C. V. (NYSE: AMX), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=AMX. The Company, which is a leading provider of integrated telecommunications services, announced on July 07, 2017 that its subsidiary Radiomóvil Dipsa, S.A. de C.V. ("Telcel") has completed the acquisition of the right to use 60 MHz of spectrum in the 2.5 GHz band, in different regions of the country. Terms of the deal were not disclosed by any of the companies. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Background of the Deal
In November 2016, the deal to buy the spectrum in the 2.5 GHz band was proposed by Radiomóvil Dipsa, S.A. de C.V. and Grupo MVS, S.A. de C.V., but the companies obtained the consent to proceed with the agreement from the telecoms regulator 'IFT' in May 2017.
Benefits Expected from the Deal
America Movil looks forward to reaping many benefits from the deal, including improvement in its offering of high-speed data to its customers.
About América Móvil S.A.B. de C.V.
América Móvil, S.A.B. de C.V. is the leading provider of integrated telecommunications services in Latin America. It provides wireless communication services to customers along with a portfolio of value added services and enhanced communications solutions in 25 countries in America and Europe. The Company's telecommunications services include mobile and fixed-line voice services, wireless and fixed data services, internet access and pay television, sales of equipment, accessories, and computers, as well as other related services offered to residential and corporate clients, including residential broadband services.
Additionally, América Móvil sells equipment, accessories, and computers; and telephone directories, publishing, call center, wireless security, advertising, media, software development, mobile payment, machine-to-machine, mobile banking, virtual private network, video call, and personal communications services. The Company operates through these different geographical segments: Mexico Wireless, Mexico Fixed, Brazil, Colombia, Southern Cone, Andean Region, Central America, Caribbean, US, and Europe. The Company was founded in 2000 and is headquartered in Mexico City, Mexico.
About Grupo MVS Comunicaciones S.A. de C.V.
Founded in 1967, Grupo MVS Comunicaciones S.A. de C.V. is a Mexican internet and TV provider. The Company offers both the production and distribution of news and entertainment content, including cable television, radio broadcasting, and internet services. Grupo MVS is made up of a conglomerate of companies with more than 40 years of experience operating in three different sectors: Telecommunications, Radio, and Restaurants. The Company is based in Mexico City, Mexico and employs more than 19,500 people.
Last Close Stock Review
On Monday, July 10, 2017, the stock closed the trading session at $16.52, climbing 2.04% from its previous closing price of $16.19. A total volume of 2.10 million shares have exchanged hands. America Movil's stock price skyrocketed 14.72% in the last three months, 30.59% in the past six months, and 34.31% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 31.42%. The stock is trading at a PE ratio of 24.99 and has a dividend yield of 2.00%. At Monday's closing price, the stock's net capitalization stands at $55.65 billion.
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