America Movil shareholders approve LatAm tower spin-off

30 Sep 2021

America Movil (AM) has announced that shareholders representing approximately 98% of its capital stock have approved the spin-off (‘escision’) of all telecoms towers and other associated passive infrastructure deployed in certain Latin American countries where it operates.

AM will contribute to Sitios Latinoamerica, a portion of its capital stock, assets and liabilities – mainly consisting of the shares of its subsidiaries holding telecoms towers. The transaction is subject to customary conditions and adjustments for corporate reorganisations and will comply with applicable requirements under the laws of Mexico and of the jurisdictions where the telecoms towers are located.

Once the spin-off becomes effective, Sitios Latam is expected to own approximately 36,000 cell towers in Argentina, Brazil, Chile, Costa Rica, the Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru, Puerto Rico and Uruguay.

Argentina, Brazil, Chile, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Uruguay, America Movil (AM)