Shares in Slim's America Movil slump after profit drop

jueves 28 de abril de 2016 09:42 GYT

MEXICO CITY, April 28 (Reuters) - Shares in Carlos Slim's America Movil slumped by 8 percent in early trading on Thursday, a day after it posted results that missed analyst expectations by a wide margin.

The shares were down 8.36 percent at 12.5 pesos per share at 8.40 am local time (1340 GMT).

The company on Wednesday reported a more than 40 percent drop in profit in the first quarter as mobile competition in Mexico intensified and it shed subscribers in Brazil.

(Reporting by Christine Murray)