Mexico's America Movil proposes name for tower business spin-off
MEXICO CITY, April 1 (Reuters) - Mexican telecoms giant America Movil, controlled by billionaire Carlos Slim, said on Wednesday it would propose at an upcoming shareholder meeting a spin-off of its cellphone tower business into a separate company known as Telesites.
The company said current shareholders would receive the same number and series of Telesites shares as they had in America Movil at the moment the new company is spun-off.
America Movil, which is currently facing tough new anti-trust regulation in Mexico, said the proposal would have to be approved by shareholders at a meeting on April 17. (Reporting by Mexico City Newsroom)
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