Mexico's America Movil, the telecoms company controlled by billionaire Carlos Slim, said on Wednesday it would propose spinning off its local cellphone tower business into a separate, listed company known as Telesites.
Last year Slim said he wanted to sell assets to try and shrug off the burden of new regulations designed to curb his dominance of the local phone and data markets.
America Movil (AMXL.MX) said that under the plan, current shareholders would receive the same number and series of Telesites shares as they held in America Movil at the moment that the new, independent company is . . .
