AT&T moves America Movil to become your competition
AT&T is one of the companies most recognized in the world telecommunications, however, their participation in the Latin American market was not well known and remained relatively unobtrusive, since this was done by America Movil , where the firm was owned a percentage of the shares, down from its majority shareholder Carlos Slim . The reality is that today in Mexico and other areas a different dynamic and mobile market lives is in a stage of development potential, so that the announcement of AT&T, on your decision to buy DirectTV , with subsequent waiver participation in America Movil floor stage for a possible aggressive entry of the company into the Latino market.
Under his full name, American Telephone & Telegraph, Inc. (AT&T) the operator, officially informed about the start of the process of acquisition of DirecTV, a situation that forced them to decide to sell their part of America Movil to capitalize for the new acquisition step and avoid any possible conflict of interest. So AT&T would sell much more than 73 million shares held in America Movil , both belonging to the L series which has 1.5%, and the AA series which own about 24.5% of the shares. Although the latter are not publicly traded, so their inclusion in the transaction will not have an impact on the prices of the securities of the company.
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AT&Tmoves America Movil to become your competition
Without however when it comes to the L series are talking of 73 million shares, which has already started to impact the state of America Movil in the stock market, which ended up closing down by 4.01% after the announcement of Game of the telecommunications company. It is therefore a movement of relative high uncertainty and speculation, because although DirectTV is a pay television company, this could be just the first step toward an entry of the firm in other markets, such as mobile phone where their future participation looks more than feasible.