Wednesday, Dec. 20, 2006

America Telecom and America Movil

Latin America's top cell-phone company announced in October it would buy out its holding company in a $37 billion deal. America Movil, which already owned 40% of America Telecom's shares, will now buy up the rest to simplify its ownership structure. Earnings and sales are booming for Mexico-based America Movil, which is controlled by tycoon Carlos Slim and provides landline and wireless service throughout the region. The deal is expected to be completed in the first quarter of 2007.