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| Company type | Public |
|---|---|
| BMV: AMX NYSE: AMX (ADR) BMAD: XAMXL | |
| Industry | Telecommunications[1 |
| Founded | 25 September 2000; 25 years ago (2000-09-25) |
| Headquarters | Plaza Carso,Mexico City, Mexico |
Areas served | Americas Europe |
Key people | Carlos Slim Helú (chairman emeritus) Carlos Slim Domit (chairman) Daniel Hajj Aboumrad (CEO) |
| Products | Fixed-line Mobile phone Broadband, Digital television IPTV Digital Media Internet of things |
| Revenue | |
| Total assets | |
| Total equity | |
Number of employees | 189,448 (2018)[2] |
| Divisions | Carso Global Telecom Global Hitss |
| Subsidiaries | Claro Claro TV Claro TV+ DLA Inc. Embratel KPN (16.1%) Nextel Brazil[3] Nuestra Visión Sección Amarilla Sercotel Speedy Movil Telcel A1 Group (59.1%) Telmex Telnor Telvista Uno TV [es] |
| Website | www |
[4]América Móvil, S.A.B. de C.V. is a Mexicantelecommunications corporation headquartered inMexico City, Mexico. It is the7th largest mobile network operator in the world in terms of equity subscribers, as well as one of the largest corporations in the world. América Móvil is aForbes Global 2000 company. As of 31 December 2023, América Móvil had 310.1 million wireless subscribers, and 73.7 million fixed revenue generating units ("RGUs", consisting of fixed voice, fixed data andPay TV units).[5]
América Móvil was created when Telmex spun off its wireless mobile activities from its landline and internet activities.[6] The company was founded in late 2000, while company shares were delivered to Telmex shareholders early the following year.
On 15 November 2005, the company signed an international pact withOoredoo to jointly deliver various international services.[citation needed] In 2006, América Móvil made a bid to acquireVerizon's Latin American and Caribbean operations[7] and unified its brands (Comcel Colombia, Porta in Ecuador, Telcel in México, Tracfone in the US andCTI Movil in Paraguay, Uruguay and Argentina) under the Claro umbrella.[8] América Móvil acquired 100% of Jamaican mobile operatorOceanic Digital, under the brand nameMiPhone in August 2007.[9] By 2007, América Móvil's valuation was over $100 billion.[10] In the US, its prepaid mobile subsidiaryTracfone had 8.6 million customers.[11] 2007 was also the year América Movil's owner Carlos Slim became the richest person on the planet.[12] In 2008, América Móvil launched theiPhone in Latin America.[13] In 2009, América Móvil partnered withNokia to use Nokia maps as its location-based service in Latin America.[14] The group also launched the firstAndroid phone in Latin America.[15]
In January 2010, it made an offer to buy Carso Telecom and Telmex International ($21 billion for Telmex[16]) in order to better compete againstSpain'sTelefonica andMalaysia'sTelekom Malaysia. The acquisition was approved by the CFC (Comisión Federal de Competencia) Antitrust Office in Mexico on 11 February 2010. América Móvil had once been Telmex' mobile division, but had grown far larger than its former parent since its spinoff in 2001.[17]
In early August 2013, América Móvil offered to take over the remaining 70% stake of the Dutch telecommunications companyKPN for 7.2 billion Euros ($9.49 billion). América Móvil currently owns close to 30% ofKPN. The Dutch government has warned against this acquisition quoting it as a threat to national security. The Dutch government's intervention comes after the council representing employees ofKPN urged authorities to halt América Móvil's planned bid.[18]
In 2018, the company's chief executive Daniel Hajj announced that América Móvil is seeking a TV license in Mexico.[19]
In January 2019, America Movil announces the acquisition of Telefonica's operations in Guatemala and El Salvador for $333 million and $315 million respectively. However, the agreement for Telefonica Moviles and Telefonica Multiservicios in El Salvador, under the Movistar brand, was cancelled by mutual agreement with Telefonica in 2020 due to the conditions imposed by the monitoring of competition in El Salvador.[20][21]
In 2012, theOECD estimated that lack of competition in telecommunications had cost theeconomy of Mexico $25 billion per year.[22][23] The company was accused of charging especially high interconnectivity fees to thwart the competition.[10] During the years before 2010, due to stricter regulations throughout Latin American countries, América Móvil's market shares shrunk andTelefónica gained grounds there.[24] In 2013, América Móvil held 75% of the Mexican telecommunications market, which led the government to lead major antitrust reforms.[25]
The company's world headquarters are located in Mexico City, Mexico. Its Mexican subsidiaryTelcel is the largest mobile operator in that country, commanding amarket share in excess of 70%. The company operates under itsClaro subsidiaries in many countries in Latin America and the Caribbean, these include theDominican Republic,Costa Rica,El Salvador,Guatemala,Honduras,Nicaragua,Peru,Argentina,Uruguay,Chile,Paraguay,Puerto Rico,Colombia andEcuador. InBrazil it also operatesClaro and other subsidiaryEmbratel. It owns 14,86% ofKPN in the Netherlands andhas done a bid on 100% of the shares. The group has also fully consolidated theTelekom Austria Group into its financial reporting, owning 51.0% of its shares and using the Austrian operator to expand América Móvil's European network.[26]
As of December 2010[update], the company was one of the top four telecommunications companies in the world and boasted 290,000 kilometres ofFiber-optic cable, making it the largest in infrastructure.[27]
As of April 2012[update], América Móvil registered an annual profit of $5 billion.[citation needed] With assets of over $67 billion (As of April 2012[update]), the company is currently the largest company in Mexico by assets withBanorte very closely behind them with assets of over $59 billion (As of April 2012[update]) It is highly likely that the company will buy a group of companies with at least $29 billion in assets in 2013 in the pension, insurance, payroll, currency exchange and mutual funds industries to secure their position as the most asset rich company in Mexico. And with a market value of over $93 billion (As of April 2012[update]), the company is currently the most valuable in Mexico, more than the next three most valuable companies combined.
As of Q1 2019:[28]
Global wireless customers 277.425 million
The "OECD Review of Telecommunication Policy and Regulation in Mexico" says that the lack of competition has led to extremely high prices for consumers and businesses and slowed the take-up of new services.
Media related toAmérica Móvil at Wikimedia Commons