America Movil buys into Chilean market

MEXICO CITY-America Movil S.A., the Mexico-based wireless service provider, said it acquired 100 percent of Chilean wireless carrier Smartcom for $472 million from Spanish company Endesa Participadas S.A. Smartcom has about 1.7 million subscribers in Chile and is the smallest wireless carrier there. America Movil owns U.S. prepaid provider Tracfone Wireless.