AT&T reduces stake in America Movil

6 Jun 2013

US-based AT&T Inc has reportedly divested 7% of its holding in Latin American telecoms giant America Movil (AM), according to Reuters, which cites a filing with the US regulators. The share sale is understood to have reduced the American operator’s stake in AM to 9%, with a spokesperson for AT&T saying of the reasoning behind the development: ‘From time to time we rebalance our asset levels and raise cash for general corporate purposes … As a result of (AM’s) recent share repurchases and our sales, we will again hold an approximate 9% interest.’

Mexico, America Movil (AM), AT&T