America Movil shareholders approve tower spin-off plan
MEXICO CITY, April 17 (Reuters) - Shareholders in Mexico's America Movil on Friday approved a plan to spin off around 10,800 cell towers into a new company, Telesites, that will open up their use to competitors, a person familiar with the matter said.
Under the plan, current shareholders would receive the same number and series of shares in Telesites, which will be listed on Mexico's stock exchange, as they held in America Movil .
Around 98 percent of shareholders voted in favour of the plan, said the person, who declined to be identified as the vote was still not public. (Reporting by Christine Murray)
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