WSJ | June 7, 2011 | Anthony Harrup
MEXICO CITY (Dow Jones)–Citigroup unit Banamex said the selloff this year in shares of Mexican telecommunications giant America Movil SAB (AMX, AMX.MX), which faces increasing regulatory pressure and stepped up competition, has been overdone and represents a good buying opportunity.
America Movil’s L shares traded on the Mexican stock market were down 20% year-to-date at Monday’s close, and were gaining, up 1.3% to 28.73 pesos ($2.45) mid-morning Tuesday.
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