América Móvil mulls transatlantic move

5 May 2005

The Latin American cellular group América Móvil has revealed that Spain is among the markets it is looking at as part of its continued international expansion. Dow Jones Newswires, quoting analysts who met with company officials this week, reports that the company is considering a surprise move into the Spanish market, which is already served by three cellcos, with a fourth preparing for launch. América Móvil’s other expansion targets are much closer to home, with Venezuela, Chile, Bolivia and Panama high on the list. The firm had 66.3 million cellular subscribers across Latin America and the US at the end of March, with Mexico, Brazil, Colombia, Argentina, Ecuador and Guatemala among its main markets.

Spain, America Movil (AM)