IFT: America Movil remains dominant after Telesites spinoff

America Movil remains a dominant player in the Mexican telecoms industry in spite of the recent spinoff of its towers business Telesites, according to Federal Telecommunications Institute (IFT) president Gabriel Contreras.

The company last week announced that Telesites shares will be listed on Mexico’s benchmark IPC stock index starting on 21 December. However, the 2014 decision to declare America Movil a dominant player “extended to all companies in the group and it was established that in the event of spinoffs, mergers or other corporate moves, the affiliates and subsidiaries would have the same obligations as the dominant company,” clarified Contreras.

America Movil controls around 80 percent of Mexican landlines and 70 percent of mobile phones while Telesites owns a network of around 10,800 towers in Mexico.