America Movil Tower Spinoff by JuneComments Off on America Movil Tower Spinoff by June
Even though summer seems so far away, it will be here before we know it. America Movil’s planned spinoff of cell towers in Mexico into a new company will be up and running by May or June of this year, Reuters reported. “We are very advanced in the tower spinoff process,” Chief Executive Daniel Hajj said in a conference call. The plan will be presented to shareholders in April and hopefully working by May or June of this year, he said. (Reuters) The new company will have 11,000 sites, but Hajj noted he was worried the new company would be considered predominant in the market and subject to tougher regulations. The company spun off its towers into a new company after Mexican regulations were tightened to boost competition in the telecom market.