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Report: America Movil SAB de CV Mexico Assets Eyed By Softbank

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America Movil SAB de CV (NYSE: AMX) might be getting closer to selling part of its Mexican assets, according to a report from Reuters on Thursday.

The Latin America phone company headed by billionaire Carlos Sims said earlier this year it would sell part of its business in Mexico to conform with new rules there aimed at boosting competition.

Various reports have pegged the value of assets on the block at up to $17 billion, with potential bidders including AT&T Inc. and the Japanese communications company Softbank Corp., which last year acquired Sprint Corp.

Recently, Softbank directed Sprint's Chief Executive Marcelo Claure to study America Movil assets now on the block, according to a report Thursday in The Wall Street Journal.

The report said Softbank could offer $10 billion for the assets, and that it will take at "least a few weeks" before SoftBank decides whether to make a bid

Softbank's Sprint recently sought to acquire T-Mobile US, but abandoned the bid amid U.S. anti-trust concerns.

Softbank holds a 32 percent stake in Alibaba Holdings Ltd, and unlike other stakeholders, didn't sell shares in the recent offering.

Posted-In: News Rumors Asset Sales Intraday Update

 

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