MEXICO CITY—America Movil, the mobile subsidiary of Mexico’s TelMex, announced several transactions that will give it control of several Latin American companies currently held by Telecom Americas and centralize Telecom Americas’ holdings in Brazil. Telecom Americas is the partnership among America Movil, SBC Communications Inc. and Bell Canada International formed last year.
Under the agreements, America Movil has purchased the 77.1-percent ownership stake in Colombia’s Comcel from Telecom Americas. America Movil’s 41-percent holding in Brazilian operator Algar Telecom Leste will transfer to Telecom Americas.
Following the transactions, Telecom Americas’ ownership will be concentrated in Brazil’s mobile sector through stakes in ATL (100 percent), Tess (100 percent), Telet (81 percent) and Americel (81 percent). The subsidiaries serve 4 million subscribers.
In addition, America Movil said it will contribute $80 million to Telecom Americas. America Movil will also receive Telecom Americas’ interests in Argentine company Techtel and Venezuelan company Genesis.
The Telecom Americas’ ownership will remain the same with America Movil holding 45.5 percent, Bell Canada International owning 41.7 percent and SBC having 12.8 percent of the partnership.
