Carlos Slim Ready to Shrink America Movil Market Share

July 9, 2014

Billionaire Carlos Slim's America Movil AMXL.MX said on Tuesday it is ready to divest assets in an unprecedented step to cut its market share in Mexican telecoms below 50 percent and escape the burden of tougher regulations.

The company, which controls some 70 percent of Mexico's mobile market and 80 percent of the fixed line business, said in a statement its board had decided to sell assets to another company that could boost investment in the sector.

America Movil, Latin America's biggest telecoms company, did not specify which assets it could get rid of, and a . . .

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