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América Móvil

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América Móvil, S.A.B. de C.V.
Company typeSociedad Anónima Bursátil de Capital Variable
BMV: AMX
NYSE: AMX
NYSE: AMOV
BMAD: XAMXL
IndustryTelecommunications
Founded2001; 23 years ago (2001)
HeadquartersPlaza Carso, Mexico City, Mexico
Area served
Americas, Europe
Key people
Carlos Slim Helú (Chairman Emeritus)
Carlos Slim Domit (Chairman)
Daniel Hajj Aboumrad, (CEO)
ProductsFixed-line
Mobile phone
Broadband,
Digital television
IPTV
Digital Media
Internet of things
RevenueIncrease MX$1.016 Trillion (Fiscal Year Ended December 31, 2020)[1]
Increase MX$165.355 Billion (Fiscal Year Ended December 31, 2020)[1]
Increase MX$51.027 Billion (Fiscal Year Ended December 31, 2020)[1]
Total assetsIncrease MX$1.625 Trillion (Fiscal Year Ended December 31, 2020)[1]
Total equityIncrease MX$315.118 Billion (Fiscal Year Ended December 31, 2020)[1]
Number of employees
189,448 (2018)[2]
DivisionsCarso Global Telecom
Global Hitss
SubsidiariesClaro
Claro TV
Claro TV+
DLA Inc.
Embratel
KPN (16.1%)
Nextel Brazil[3]
Nuestra Visión
Sección Amarilla
Sercotel
Speedy Movil
Telcel
Telekom Austria Group (51.0%)
Telmex
Telnor
Telvista
Uno TV
Websitewww.americamovil.com

América Móvil is a Mexican telecommunications corporation headquartered in Mexico City, Mexico. It is the 7th largest mobile network operator in terms of equity subscribers and one of the largest corporations in the world. América Móvil is a Forbes Global 2000 company. As of Q1, 2019, América Móvil had 277.4 million wireless subscribers, and 84.3 million fixed revenue generating units ("RGUs", consisting of fixed voice, fixed data and Pay TV units).[4]

History

América Móvil was created in 2001 when Telmex spun off its wireless mobile activities from its landline and internet activities.[5]

On November 15, 2005, the company signed an international pact with Ooredoo to jointly deliver various international services.[citation needed] In 2006, América Móvil made a bid to acquire Verizon's Latin American and Caribbean operations[6] and unified its brands (Comcel Colombia, Porta in Ecuador, Telcel in México, Tracfone in the US and CTI Movil in Paraguay, Uruguay and Argentina) under Claro unbrella.[7] América Móvil acquired 100% of Jamaican mobile operator Oceanic Digital, under the brand name MiPhone in August 2007.[8] By 2007, América Móvil's valuation was over $100 billion.[9] In the US, its prepaid mobile subsidiary Tracfone had 8.6 million customers.[10] 2007 was also the year América Movil's owner Carlos Slim became the richest person on the planet.[11] In 2008, América Móvil launched the iPhone in Latin America.[12] In 2009, América Móvil partnered with Nokia to use Nokia maps as its location-based service in Latin America.[13] The group also launched the first Android phone in Latin America.[14]

In January 2010, it made an offer to buy Carso Telecom and Telmex International ($21 billion for Telmex[15]) in order to better compete against Spain's Telefonica and Malaysia's Telekom Malaysia. The acquisition was approved by the CFC (Comisión Federal de Competencia) Antitrust Office in Mexico on February 11, 2010. América Móvil had once been Telmex' mobile division, but had grown far larger than its former parent since its spinoff in 2001.[16]

In early August 2013, América Móvil offered to take over the remaining 70% stake of the Dutch telecommunications company KPN for 7.2 billion Euros ($9.49 billion). América Móvil currently owns close to 30% of KPN. The Dutch government has warned against this acquisition quoting it as a threat to national security. The Dutch government's intervention comes after the council representing employees of KPN urged authorities to halt América Móvil's planned bid.[17]

In 2018, the company's chief executive Daniel Hajj announced that América Móvil is seeking a TV license in Mexico.[18]

In January 2019, America Movil announces the acquisition of Telefonica's operations in Guatemala and El Salvador for $333 million and $315 million respectively. However, the agreement for Telefonica Moviles and Telefonica Multiservicios in El Salvador, under the Movistar brand, was cancelled by mutual agreement with Telefonica in 2020 due to the conditions imposed by the monitoring of competition in El Salvador.[19][20]

Monopoly issues

In 2012, the OECD estimated that lack of competition in telecommunications had cost the economy of Mexico $25 billion per year.[21][22] The company was accused of charging especially high interconnectivity fees to thwart the competition.[9] During the years before 2010, due to stricter regulations throughout Latin American countries, América Móvil's market shares shrunk and Telefónica gained grounds there.[23] In 2013, América Móvil held 75% of the Mexican telecommunications market, which led the government to lead major antitrust reforms.[24]

Description

The company's world headquarters are located in Mexico City, Mexico. Its Mexican subsidiary Telcel is the largest mobile operator in that country, commanding a market share in excess of 70%. The company operates under its Claro subsidiaries in many countries in Latin America and the Caribbean, these include the Dominican Republic, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Peru, Argentina, Uruguay, Chile, Paraguay, Puerto Rico, Colombia and Ecuador. In Brazil it also operates Claro and other subsidiary Embratel. It owns 14,86% of KPN in the Netherlands and has done a bid on 100% of the shares. The group has also fully consolidated the Telekom Austria Group into its financial reporting, owning 51.0% of its shares and using the Austrian operator to expand América Móvil's European network.[25]

As of December 2010, the company was one of the top four telecommunications companies in the world and boasted 290,000 kilometres of Fiber-optic cable, making it the largest in infrastructure.[26]

As of April 2012, América Móvil registered an annual profit of $5 billion.[citation needed] With assets of over $67 billion (As of April 2012), the company is currently the largest company in Mexico by assets with Banorte very closely behind them with assets of over $59 billion (As of April 2012) It is highly likely that the company will buy a group of companies with at least $29 billion in assets in 2013 in the pension, insurance, payroll, currency exchange and mutual funds industries to secure their position as the most asset rich company in Mexico. And with a market value of over $93 billion (As of April 2012), the company is currently the most valuable in Mexico, more than the next three most valuable companies combined.

América Móvil global wireless customers

As of Q1 2019:[4]

North America
Central America and the Caribbean
South America
Austria and CEE 20.908 million

Global wireless customers 277.425 million

Former assets

América Móvil wireless technology by country

South America

Caribbean

Central America

North America

Europe

See also

References

  1. ^ a b c d e "América Móvil, S.A.B. de C.V. 2020 Annual Report" (PDF). s22.q4cdn.com. 31 December 2020. Retrieved 20 October 2021.
  2. ^ "2018 Annual report Form 20-F" (PDF). América Móvil. Retrieved May 10, 2019.
  3. ^ Paola Bertolini (16 May 2019). "Nextel Brasil pierde en primer trimestre mientras llega su nuevo dueño: América Móvil". Forbes México (in Spanish).
  4. ^ a b "Q1 2019 Quarterly Report | América Móvil" (PDF). www.americamovil.com. Archived (PDF) from the original on 2019-05-02. Retrieved 2019-05-10.
  5. ^ Rich Duprey, Wall Street's Best Hidden Stocks, Fool.com, 30 August 2010
  6. ^ Helen Coster, Mexican Billionaire Expands Telecom Holdings, Forbes.com, 3 April 2006
  7. ^ (in Spanish) América Móvil unifica sus marcas, Portafolio, 13 September 2006
  8. ^ Business News Americas staff reporter. "AMX buys Jamaican operator Oceanic Digital". BNamericas. {{cite web}}: |author= has generic name (help)
  9. ^ a b Tim Padgett, Carlos Slim's Embarrassment of Riches, Time.com, 11 July 2007
  10. ^ Virgin Mobile USA IPO Raises $412.5 Million, Cnbc.com, 10 October 2007
  11. ^ P. Miller, Carlos Slim edges out Bill "Fatty Fat Fat" Gates as world's richest person, Engadget.com, 3 July 2007
  12. ^ Sam Oliver, Orange to offer 3G iPhone in Africa, Mid East, and Europe, Appleinsider.com, 16 May 2008
  13. ^ América Móvil And Nokia Help Mobile Users In Latin America Navigate Their World, Fieldtechnologiesonline.com, 20 February 2009
  14. ^ Sinead Carew, Ritsuko Ando, Motorola unveils Google phone to muted response, Reuters.com, 10 September 2009
  15. ^ Noel Randewich, Tomas Sarmiento, America Movil makes $21 billion bid for Telmex, Reuters.com, 13 January 2010
  16. ^ "Home page | América Móvil" (PDF). www.americamovil.com. Archived from the original (PDF) on 2016-08-10. Retrieved 2017-05-28.
  17. ^ Dolia Estevez (13 September 2013). "Dutch Government Issues Warning On Takeover Of Telecom Firm KPN By Mexican Billionaire Carlos Slim". Forbes.
  18. ^ Love, Julia. "America Movil still wants TV license in Mexico, CEO says". U.S. Retrieved 2018-04-26.
  19. ^ Ore, Diego. "America Movil says scraps deal to purchase Telefonica's El Salvador unit". Nasdaq. Retrieved 2021-12-30.
  20. ^ Bertran, Augustin (2020-08-24). "EL SALVADOR SETS RULES FOR AMERICA MOVIL TO ACQUIRE TELEFONICA'S OPERATIONS". Next TV News. Retrieved 2021-12-30.
  21. ^ "Telecoms reform would boost competition and growth in Mexico, says OECD". OECD. January 30, 2012. Retrieved March 12, 2013. The "OECD Review of Telecommunication Policy and Regulation in Mexico" says that the lack of competition has led to extremely high prices for consumers and businesses and slowed the take-up of new services.
  22. ^ Stryszowska, Marta, (2012), "Estimation of Loss in Consumer Surplus Resulting from Excessive Pricing of Telecommunication Services in Mexico", OECD Digital Economy Papers, No. 191, Éditions OCDE. Accessed 16 May 2014.
  23. ^ Noel Randewich, Mexican tycoon Slim's telecom empire loses luster, Reuters.com, 10 January 2010
  24. ^ America Movil received help from Mexican Telecomm Agency, Newtechmag.net, 27 March 2021
  25. ^ "Shareholder Structure - A1 Telekom Austria Group". Retrieved 14 Feb 2021.
  26. ^ "Buzz in the air as AMX comes of age". Financial Times. 22 November 2010.
  27. ^ Kelly, Makena (2021-11-22). "FCC approves $6 billion Verizon-Tracfone acquisition". The Verge. Retrieved 2021-11-23.
  28. ^ "Verizon completes TracFone Wireless, Inc. acquisition (press release)" (Press release). Verizon Communications. Retrieved November 23, 2021.
  29. ^ Regulamento comunicado[permanent dead link]
  • Official website
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