Mexican telecoms giant America Movil (AM) has announced that its board of directors intends to unveil a two-pronged proposal at its next shareholders’ meeting, due to be held in October 2016. One aspect of the proposal relates to the delisting of AM shares in certain foreign stock markets, notably New York-based NASDAQ and LATIBEX in Madrid. No further details regarding the delisting plans were supplied in the group’s regulatory filing.
The other aspect of AM’s proposal will involve offering all shareholders the option to receive shares or cash as payment of the second instalment of the ordinary dividend, as approved by the annual general meeting of shareholders on 18 April 2016. The dividend has been set at MXN0.14 (USD0.007) per share.