America Movil | April 19, 2011 | Press Release
Mexico City, México, April 19, 2011. América Móvil, S.A.B. DE C.V. (“AMX”) (BMV: AMX; NYSE: AMX; Nasdaq: AMOV; LATIBEX: XAMXL), announced today that it has entered into a stock purchase agreement with GE Satellite Holdings LLC and its affiliates (“GE”), to acquire 20% of the shares representing the capital stock of StarOne S.A. (“StarOne”). StarOne is a Brazilian company that provides satellite services in Brazil. Empresa Brasileira de Telecomunicações S.A. (“Embratel”), subsidiary of AMX, currently owns the remaining 80% of the shares representing the capital stock of Star One. The completion of the transaction is subject to regulatory approvals in Brazil, and is expected to occur during the third quarter of 2011.
About AMX
AMX is the leading provider of wireless services in Latin America. As of December 31, 2010, it had 225 million wireless subscribers and 51.5 million fixed revenue generating units in the Americas.
