America Movil shareholders will next month vote on a plan to spin off its mobile towers and other passive infrastructure into a separate business, the Mexican operator confirmed this week.
The telco announced in July that it would separate its mobile sites – base stations and towers – from mobile operator Telcel as part of a bid to avoid asymmetric regulation. Ifetel imposed new rules on America Movil last year, having deemed it to be a dominant player in the market.
On Wednesday it said shareholders will discuss the spin-off, along with other issues.
Further information came from Reuters, which reported that the towers business in question will be named Telesites and, subject to the regulatory green light, will be listed in Mexico. The new company is due to be up and running in May or June.
As part of the same strategy America Movil last year said it would sell off a portfolio of fixed and mobile assets that would en able a new player to enter the Mexican telecoms market. After an initial flurry of speculation, with companies like AT&T, Softbank and China Mobile named as potential buyers, the telco has gone quiet on the matter.
AT&T bought into Mexico in January when its US$2.5 billion purchase of Iusacell closed and it agreed a $1.88 billion acquisition of Nextel, so it is out of the running if and when the asset sale takes place.
