Slim's America Movil still analyzing telecom asset sale
MEXICO CITY, Sept 29 (Reuters) - Mexican telecommunications company America Movil, controlled by tycoon Carlos Slim, said on Monday it is still analyzing an asset sale it has vowed to undertake to reduce its market share and comply with new rules aimed at driving competition in the sector.
In July, America Movil surprised the market by announcing it would sell a chunk of its Mexican assets to reduce in size below a 50 percent local market share and avoid tough new regulations as part of a telecoms reform.
The telecoms overhaul was initiated by President Enrique Pena Nieto to drive competition in the sector, where Slim controls around 70 percent of the mobile market and more than 60 percent of landlines.
On Monday, in a U.S. regulatory filing, America Movil said it was still deciding how it would reduce in size to below 50 percent market share, adding that any final decision would require regulatory approval.
America Movil also said it was still weighing what parts of its Mexican infrastructure assets would be separated.
"The company is still analyzing the cellular sites, towers and related passive infrastructure that could be separated from its Mexican subsidiary of mobile services," America Movil said.
Earlier this month, an AT&T Inc executive said the U.S. company is "intrigued" by Latin America and especially Mexico and would not rule out an opportunistic deal there.
AT&T is one of several potential buyers Carlos Slim's America Movil has contacted as it tries to sell a chunk of assets, according to a source familiar with the situation.
America Movil shares ended trading on Friday up 0.95 percent at 16.99 pesos ($1.26).
($1 = 13.51 pesos) (Reporting by Tomas Sarmiento and Gabriel Stargardter; Editing by Chizu Nomiyama)
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