Slim's Inmobiliaria Carso will buy more than 5.7
billion "AA" shares that have been held by AT&T, equal to 8.27
percent of America Movil's stock, the Mexican telecommunications
firm said in the filing.
The stake represents 23.81 percent of America Movil's voting
stock. Inmobiliaria Carso and one of its subsidiaries will also
buy 72.8 million shares of commonly traded "L" shares, according
to the filing.
America Movil did not reveal how much Inmobiliaria Carso will
pay for the shares. "AA" shares do not frequently trade, but if
the whole deal were valued at the current price of "L" shares,
it would be worth close to $6 billion.
Slim's firms and family already control more than 50 percent of
America Movil's voting stock.
AT&T announced the plan to sell its stake in America Movil in
May in order to help it gain regulatory approval for its
purchase of DirecTV.
America Movil shares closed up 3.59 percent at 13.29 pesos per
(Reporting by Tomas Sarmiento; Editing by Paul Simao)
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