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América Móvil To Buy Out Telmex

América Móvil has tendered an offer to acquire the stake in Teléfonos de México that it does not already own.

América Móvil has tendered an offer to acquire the stake in Teléfonos de México that it does not already own. The wireless service provider will buy 40.04% of the outstanding shares of Telmex and become its 100% owner.

The Carlos Slim-owned company has offered to pay $0.88 per share for the acquisition. The acquisition will be subject to customary conditions, including the receipt of regulatory authorizations.

Click here for the release from América Móvil.

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