October 28, 2016 / 3:37 PM / 2 years ago

UPDATE 1-America Movil says offering content will become "very important"

(Adds further details on conference call and context)

MEXICO CITY, Oct 28 (Reuters) - Mexican telecoms company America Movil said on Friday that offering content is important, and will become “very important” in the future, as rival AT&T Inc bids for U.S. media powerhouse Time Warner Inc.

Asked about AT&T’s offer to buy Time Warner, Chief Executive Daniel Hajj said on a conference call: “Let’s see what’s going to happen. ... Content is important right now; it’s going to become very important in the future.”

Shares in America Movil rose more than 7 percent after the company said that it had swung to a profit in the third quarter, helped by stronger data use and a lower foreign exchange loss.

The company, controlled by the family of billionaire Carlos Slim, is dealing with the effects of a sector reform at home designed to curb its dominance, which prompted a price war after AT&T entered the market.

America Movil’s market share, which is almost 70 percent, has not changed significantly since the reform was enacted.

Mexican telecommunications regulator IFT is reviewing the measures it put in place against the company in the new, more competitive environment.

Hajj added that there could be a decision by IFT on its review in the first quarter of next year.

In Brazil, America Movil’s second largest market, speculation has been rife about possible acquisitions of some or all of the operations of struggling rival Oi SA.

Hajj said he did not expect to see any consolidation there anytime soon, but said the company was always open to hearing about opportunities. (Reporting by Christine Murray and Gabriel Stargardter; Editing by Jonathan Oatis)

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