Mon Sep 15, 2014
Carlos Slim's America Movil has contacted AT&T Inc and SoftBank Corp as the telecommunications company tries to sell a chunk of assets that could be worth up to $17.5 billion, Bloomberg reported on Monday, citing people with knowledge of the matter.
The sale would include America Movil infrastructure in a strip of states from north to south along Mexico's eastern coast, two sources told the U.S. news agency.
Shares in America Movil were up 2.34 percent at 17.47 pesos after the report.
America Movil said in July it would sell part of its Mexican operation to cut its market share below 50 percent and avoid new regulations designed to curb its dominance.
The assets could be valued at five to seven times earnings before interest, taxes, depreciation and amortization of $2.5 billion, implying a value of up to $17.5 billion, according to Bloomberg.
America Movil has not yet asked for bids as the information given did not provide enough details for a company to make an offer, Bloomberg reported.
Both AT&T spokesman Mark Siegel and a spokeswoman for America Movil declined to comment.
The Mexican company has also approached BCE Inc's Bell Canada and China Mobile Ltd, Bloomberg reported, citing a source.
China Mobile, Bell Canada and Softbank could not be reached immediately for comment.
