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MarketScreener Homepage  >  Equities  >  Mexican Stock Exchange  >  América Móvil, S.A.B. de C.V.    AMX L   MXP001691213

AMÉRICA MÓVIL, S.A.B. DE C.V.

(AMX L)
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TIM, Telefonica and Claro present bid for Oi's mobile assets

07/18/2020 | 08:58pm EST

TIM Participacoes, Telefonica Brasil and America Movil SAB de CV presented a joint offer for the mobile unit of bankrupt Brazilian carrier Oi Group, according to filings by the companies on Saturday.

The telecom firms did not disclose details of the offer. They said they asked Oi for the right to match potential offers it may have received in the competitive process for its assets.

Oi said there was a second offer, but it did not disclose details. It declined to comment further. According to two sources with knowledge of the matter, the other party is a foreign strategic player with a small presence in Brazil.

Oi will not choose the winner based solely on price but will also consider which group could secure regulatory approval for the deal faster, especially in terms of market concentration.

In a separate statement, Oi said it received a 1.08 billion-reais ($200.59 million) binding offer for its tower unit from Highline do Brasil II Infraestrutura de Telecomunicações S.A.

The Brazilian carrier set a minimum price of 15 billion reais ($2.79 billion) for its mobile assets. The company intends to use the proceeds of asset sales to fund its growing broadband fiber unit and pay off debt, aiming to exit bankruptcy protection. It was not clear if the offers met the minimum price.

TIM Brasil SA and Telefonica Brasil said in May they were planning a joint offer for Oi's mobile business, despite the COVID-19 outbreak, not mentioning Claro.

"The transaction, if completed, shall add value to all shareholders and clients by means of further growth, generation of operational efficiencies and service quality enhancement," the three bidders said in statements.

Oi, Brazil's largest fixed-line carrier had approximately 65 billion reais ($12.65 billion) of debt when it filed for bankruptcy protection.

($1 = 5.3842 reais)

(Reporting by Francesca Landini in Milan; and Carolina Mandl and Tatiana Bautzer in Sao Paulo; Editing by Ros Russell, Matthew Lewis and Cynthia Osterman)

By Carolina Mandl, Tatiana Bautzer and Francesca Landini

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMÉRICA MÓVIL, S.A.B. DE C.V. -0.14% 14.53 End-of-day quote.-3.77%
EURO / BRAZILIAN REAL (EUR/BRL) 0.09% 6.3439 Delayed Quote.42.03%
OI S.A. 5.34% 2.96 End-of-day quote.140.65%
TELECOM ITALIA S.P.A. 2.18% 0.3801 Delayed Quote.-33.14%
TELEFONICA S.A. 3.26% 3.709 Delayed Quote.-40.44%
TELEFÔNICA BRASIL S.A. -2.26% 45.34 End-of-day quote.-21.80%
TIM PARTICIPAÇÕES S.A. -0.88% 13.46 End-of-day quote.-14.10%
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Financials
Sales 2020 1 022 B 51 201 M 51 201 M
Net income 2020 34 207 M 1 713 M 1 713 M
Net Debt 2020 646 B 32 350 M 32 350 M
P/E ratio 2020 23,4x
Yield 2020 2,09%
Capitalization 973 B 48 601 M 48 749 M
EV / Sales 2020 1,58x
EV / Sales 2021 1,57x
Nbr of Employees 187 383
Free-Float 48,5%
Chart AMÉRICA MÓVIL, S.A.B. DE C.V.
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América Móvil, S.A.B. de C.V. Technical Analysis Chart | AMX L | MXP001691213 | MarketScreener
Technical analysis trends AMÉRICA MÓVIL, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 17,91 MXN
Last Close Price 14,53 MXN
Spread / Highest target 44,5%
Spread / Average Target 23,3%
Spread / Lowest Target 3,23%
EPS Revisions
Managers
NameTitle
Daniel Hajj Aboumrad Chief Executive Officer & Executive Director
Carlos Slim Domit Chairman
Carlos José García Moreno Elizondo Chief Financial Officer
Luis Alejandro Soberón Kuri Director
David Antonio Ibarra Muñoz Independent Director
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