América Móvil expects 150m mobile users by end-2008

23 May 2006

Mexican-based mobile group América Móvil expects its Latin American customer base to grow by 50 million over the next 30 months to surpass 150 million users by the end of 2008, predicting that its subsidiaries in the region will sign up 50% of all new customers over the period, according to Reuters quoting the company’s finance director Carlos García. At the end of March 2006 América Móvil had more than 100 million users and it aims to increase this to between 122 million and 124 million by the end of the year. By that date the company expects to have completed the acquisition of businesses in the Dominican Republic (due to close this month), Puerto Rico and Venezuela (both expected in 3Q2006).

Mexico, America Movil (AM)