Tag Archives: America Movil

Claro launches mobile operations in Costa Rica

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Claro has activated its first mobile lines in Costa Rica. Claro has also opened its first mobile shops at six local shopping centres located in Heredia, Alajuela, Escazu and Tres Rios (La Union), Inside Costa Rica reports, citing Ricardo Taylor, head of Claro’s operations in Costa Rica.

Claro’s network currently covers the Greater Metropolitan Area, and will be gradually expanded across the country.

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America Movil profits lower in Q3, sales rise 8%

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América Móvil reported third-quarter revenues up nearly 8 percent from the prior year to MXN 167 billion. EBITDA grew a slower 1 percent to MXN 64 billion amid higher costs for winning new customers in postpaid mobile and pay-TV, as well as expansion in its biggest markets Mexico and Brazil.

Operating profit fell 3.3 percent to almost MXN 40 billion, and net profit was down 21 percent to MXN 18.7 billion due to forex losses. The company finished the quarter with a total 298 million access lines, up 11.7 percent from a year ago. In the three months since June, it added 5.5 million mobile customers, to bring the total base to 241.5 million.

Postpaid growing twice as fast as prepaid and reached 15 percent of the total customer base. The number of fixed-line RGUs was up 3.6 percent from June and 12.9 percent from a year ago to a total 56.43 million. That includes 29.3 million landlines, 14.6 million broadband accesses and 12.5 million TV subscribers.

In the first nine months of 2011, the company spent MXN 73 billion on capital equipment, while net debt rose by MXN 40 billion to a total MXN 247 billion at the end of September.

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Carlos Slim eyes Latin America for growth, FT reports

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Carlos Slim, the Mexican telecommunications tycoon and the world’s richest man, intends to increase investment in Latin America to benefit from cheaper technology and the region’s increasing purchasing power before looking to break into other markets.

In an interview with the Financial Times, Mr Slim, who is the controlling shareholder of América Móvil, the region’s biggest telecoms company, said: “The fertile ground is Latin America . . . within 10 or 15 years, it is going to break the barrier…

Read the full article here at the Financial Times

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Regulator cuts Telmex's interconnection charges by up to 94%

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Mexican regulator Cofetel has reduced the interconnection rate charged by Telmex to rival operators to MXN 3.951 from MXN 11.55. Cofetel has also changed the legal nature of long distance service that Telmex provides to other competitors in rural areas with no investment from other fixed telephony competitors. Cofetel has also cut the interconnection rate for this service by 94 percent to 4.53 peso cents per minute, from 75 peso cents.

America Movil believes that such decisions are “arbitrary”, “clearly unexplainable and deprive [its subsidiary Telmex] of its corresponding rights and assets. Telmex plans to carry out all the relevant legal defense actions.

Additionally, related to the fixed-mobile interconnection rates that have been reduced, Telmex will apply the interconnection rates as established by Cofetel, until the legal proceedings of mobile service companies are not definitely resolved.

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America Movil fined 1bn USD by CFC for monopoly practices

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America Movil announced it has been ordered to pay a MXN 11.99 billion (approximately USD 1 billion) fine by Mexican competition watchdog Federal Competition Commission (CFC) for alleged monopoly practices. The fine follows a four-year investigation carried out by the CFC into Telcel, America Movil‘s mobile brand in Mexico.

According to a filing with the Mexican stock exchange, the fine is related to a probe begun in November 2006 over alleged monopoly practices associated with mobile call termination on the Telcel network. “America Movil and its subsidiary Telcel are analyzing the decision, and plan to appeal”, the company said.

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Telmex rebrands as Claro in Ecuador

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ClaroAmerica Movil will rebrand its Ecuador fixed-line unit Telmex as Claro. The rebranding decision is part of a strategy being implemented across America Movil’s subsidiaries in the region. America Movil currently operates under the Claro brand name in 14 Lain American countries.

America Movil recently rebranded its Ecuador mobile unit as Claro. The use of the Claro brand name does not include a merger of the two companies, as both continue to operate independently in their respective businesses, the company said.

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Digicel buys Claro Jamaica

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Digicel has agreed to acquire America Movil’s Claro business in Jamaica. In turn, America Movil will acquire Digicel’s businesses in El Salvador and Honduras. Financial terms of the transaction have not been disclosed. However, there will be a net cash payment to Digicel. The transaction is subject to regulatory approvals and is scheduled for completion in the second quarter.

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