América Móvil

América Móvil, S.A.B. de C.V.

Company type	Public
Traded as	BMV: AMX NYSE: AMX (ADR) BMAD: XAMXL
Industry	Telecommunications
Founded	25 September 2000; 24 years ago (2000-09-25)
Headquarters	Plaza Carso, Mexico City, Mexico
Areas served	Americas Europe
Key people	Carlos Slim Helú (chairman emeritus) Carlos Slim Domit (chairman) Daniel Hajj Aboumrad (CEO)
Products	Fixed-line Mobile phone Broadband, Digital television IPTV Digital Media Internet of things
Revenue	MX$1.016 Trillion (Fiscal Year Ended 31 December 2020)[1]
Operating income	MX$165.355 Billion (Fiscal Year Ended 31 December 2020)[1]
Net income	MX$51.027 Billion (Fiscal Year Ended 31 December 2020)[1]
Total assets	MX$1.625 Trillion (Fiscal Year Ended 31 December 2020)[1]
Total equity	MX$315.118 Billion (Fiscal Year Ended 31 December 2020)[1]
Number of employees	189,448 (2018)[2]
Divisions	Carso Global Telecom Global Hitss
Subsidiaries	Claro Claro TV Claro TV+ DLA Inc. Embratel KPN (16.1%) Nextel Brazil[3] Nuestra Visión Sección Amarilla Sercotel Speedy Movil Telcel A1 Group (59.1%) Telmex Telnor Telvista Uno TV
Website	www.americamovil.com

América Móvil, S.A.B. de C.V. is a Mexican telecommunications corporation headquartered in Mexico City, Mexico. It is the 7th largest mobile network operator in the world in terms of equity subscribers, as well as one of the largest corporations in the world. América Móvil is a Forbes Global 2000 company. As of 31 December 2023, América Móvil had 310.1 million wireless subscribers, and 73.7 million fixed revenue generating units ("RGUs", consisting of fixed voice, fixed data and Pay TV units).^[4]

History

América Móvil was created when Telmex spun off its wireless mobile activities from its landline and internet activities.^[5] The company was founded in late 2000, while company shares were delivered to Telmex shareholders early the following year.

On 15 November 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 11 February 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^[update], 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^[update], América Móvil registered an annual profit of $5 billion.^{[citation needed]} With assets of over $67 billion (As of April 2012^[update]), 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^[update]) 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^[update]), 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:^[27]

North America

• Mexico - Telcel 75.611 million

Central America and the Caribbean

• Costa Rica Dominican Republic El Salvador Guatemala Honduras Nicaragua Panama Puerto Rico - Claro 21.741 million

South America

• Colombia - Claro 29.887 million
• Peru - Claro 11.818 million
• Brazil - Claro 56.383 million
• Argentina Paraguay Uruguay - Claro 24.370 million
• Ecuador - Claro 8.308 million
• Chile - Claro 6.720 million

Austria and CEE 20.908 million

• Austria - A1
• Bulgaria - A1 Bulgaria
• Belarus - A1
• Croatia - A1 Hrvatska
• Slovenia - A1 Slovenija
• Serbia - A1 Srbija
• North Macedonia - A1 Macedonia
• Liechtenstein - Telecom Liechtenstein (sold in 2020)

Global wireless customers 277.425 million

Former assets

• United States - TracFone Wireless (TracFone, NET10 Wireless, Straight Talk, SafeLink Wireless, SIMPLE Mobile, Total Wireless and Telcel América) 21.599 million; acquired by Verizon Communications^[28][29]

América Móvil wireless technology by country

South America

• CDMA ^{(800/1900MHZ)}, GSM/GPRS/EDGE ^{(850/1900MHZ)}, UMTS/HSDPA ^{(850/1900MHZ)} _{first UMTS live by América Móvil} LTE
• TDMA ^{(800MHZ, discontinued in 2009[30])}, GSM/GPRS/EDGE ^{(900/1800MHZ)}, UMTS/HSDPA ^{(850/2100MHZ)}, LTE ^{(700MHZ/1800MHZ/2100MHZ/2600MHZ)}
• TDMA ^{(800MHZ, discontinued in 2009)}, GSM/GPRS/EDGE ^{(850/1900MHZ)}, UMTS/HSDPA ^{(850MHZ, 1900MHZ)}, LTE ^{(2600MHZ, 700MHZ)}
• TDMA ^(800MHZ), GSM/GPRS/EDGE ^{(850MHZ soon 1900)}, UMTS/HSDPA ^{(850MHZ soon 1900)} LTE
• GSM/GPRS/EDGE ^{(850/1900MHZ)}, UMTS/HSDPA ^{(850MHZ soon 1900)} LTE
• CDMA ^(1900MHZ), GSM/GPRS/EDGE ^{(850/1900MHZ)}, UMTS/HSDPA ^{(850MHZ soon} LTE

Caribbean

• CDMA ^{(800/1900MHZ)}, GSM/GPRS/EDGE ^{(850/1900MHZ)}, UMTS/HSDPA ^{(850MHZ soon 1900)} LTE
• GSM/GPRS/EDGE ^{(850/1900MHZ)}, UMTS/HSDPA ^{(850MHZ soon 1900)} LTE
• CDMA ^(800MHZ), GSM/GPRS/EDGE ^(850MHZ), UMTS/HSDPA ^(850MHZ) LTE

Central America

• CDMA ^(1900MHZ), GSM/GPRS/EDGE ^{(900/1900MHZ)}, UMTS/HSPA ^(1900MHZ) _{first HSPA (High-Speed Packet Access) live by América Móvil} LTE
• GSM/GPRS/EDGE ^(1900MHZ), UMTS/HSDPA ^(1900MHZ) LTE
• GSM/GPRS/EDGE ^(1900MHZ), UMTS/HSDPA ^(1900MHZ) LTE
• GSM/GPRS/EDGE ^(1900MHZ), UMTS/HSDPA ^(1900MHZ) LTE
• GSM/GPRS/EDGE ^(1900MHZ), UMTS/HSDPA ^(850MHZ) LTE

North America

• TDMA ^(800MHZ), GSM/GPRS/EDGE ^{(850/1900MHZ)}, UMTS/HSDPA ^{(850/1900MHZ)}, LTE ^(1700MHZ)

Europe

• GSM/GPRS/EDGE ^{(900/1800MHZ)}, UMTS/HSDPA ^{(900/2100MHZ)}, LTE ^{(800/1800/2600MHZ)}
• GSM/GPRS/EDGE ^{(900/1800MHZ)}, UMTS/HSDPA ^{(900/2100MHZ)}, LTE ^{(800/1800/2600MHZ)}
• GSM/GPRS/EDGE ^{(900/1800MHZ)}, UMTS/HSDPA ^(2100MHZ), LTE ^(1800MHZ)
• GSM/GPRS/EDGE ^(900MHZ), UMTS/HSDPA ^(2100MHZ), LTE ^{(800/1800MHZ)}
• GSM/GPRS/EDGE ^{(900/1800MHZ)}, UMTS/HSDPA ^{(900/2100MHZ)}, LTE ^{(800/1800/2600MHZ)}
• GSM/GPRS/EDGE ^{(900/1800MHZ)}, UMTS/HSDPA ^{(900/2100MHZ)}, LTE ^{(800/1800MHZ)}
• GSM/GPRS/EDGE ^{(900/1800MHZ)}, UMTS/HSDPA ^(2100MHZ), LTE ^{(800/1800/2600MHZ)}
• GSM/GPRS/EDGE ^{(900/1800MHZ)}, UMTS/HSDPA ^(2100MHZ), LTE ^(800MHZ) (sold in 2020)

See also

• List of mobile network operators of the Americas

References

1. "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 10 May 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. "2023 ANNUAL REPORT FORM 20-F | América Móvil" (PDF). www.americamovil.com. Archived (PDF) from the original on 1 August 2024. Retrieved 23 September 2024.
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. 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 10 August 2016. Retrieved 28 May 2017.
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 26 April 2018.
19. Ore, Diego. "America Movil says scraps deal to purchase Telefonica's El Salvador unit". Nasdaq. Retrieved 30 December 2021.
20. Bertran, Augustin (24 August 2020). "EL SALVADOR SETS RULES FOR AMERICA MOVIL TO ACQUIRE TELEFONICA'S OPERATIONS". Next TV News. Retrieved 30 December 2021.
21. "Telecoms reform would boost competition and growth in Mexico, says OECD". OECD. 30 January 2012. Retrieved 12 March 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 February 2021.
26. "Buzz in the air as AMX comes of age". Financial Times. 22 November 2010. Archived from the original on 11 December 2022. Retrieved 6 December 2010.
27. "Q1 2019 Quarterly Report | América Móvil" (PDF). www.americamovil.com. Archived (PDF) from the original on 2 May 2019. Retrieved 10 May 2019.
28. Kelly, Makena (22 November 2021). "FCC approves $6 billion Verizon-Tracfone acquisition". The Verge. Retrieved 23 November 2021.
29. "Verizon completes TracFone Wireless, Inc. acquisition (press release)" (Press release). Verizon Communications. Retrieved 23 November 2021.
30. Regulamento comunicado^{[permanent dead link‍]}

External links

• Official website
• Business data for América Móvil:
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