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TMCNet:  America Movil acquires Carso Global Telecom

[June 17, 2010]

America Movil acquires Carso Global Telecom

Jun 17, 2010 (Datamonitor Financial Deals Tracker via COMTEX) -- America Movil, S.A.B. de C.V., a provider of wireless services in Latin America, has acquired a 99.44% stake in Carso Global Telecom, S.A.B. de C.V., an investment holding company operating in the telecommunication industry. Both the companies are based in Mexico.

America Movil has issued 7,080 million shares to tendering shareholders of Carso Global. Based on the share price of America Movil on January 13, 2010, the transaction is valued at approximately $17,662.2 million.

Update on March 17, 2010: America Movil has received an approval from its shareholders to acquire up to all the outstanding shares of Carso Global Telecom.

Announcement (January 13, 2010): America Movil intends to launch a tender offer to acquire Carso Global Telecom for approximately $18,000 million.

Under the terms of the transaction, the shareholders of Carso will receive 2.0474 shares of America Movil per each Carso share. If Carso's shareholders tender all their shares, America Movil will own 59.4% of the outstanding shares of Telefonos de Mexico, S.A.B. de C.V. and 60.7% of the outstanding shares of Telmex Internacional, S.A.B. de C.V.

Concurrently, America Movil also intends to launch an offer for the acquisition of all of the Telmex Internacional's shares that are not already owned by Carso.

Santander Global Banking & Markets is acting as financial advisor to Carso Global Telecom.

Deal Value (US$ Million) 17662.2 Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2010-06-16 Deal Participants Target (Company) Carso Global Telecom S.A. de C.V.

Acquirer (Company) America Movil S.A. de C.V Deal Rationale The transaction will enable America Movil to offer integrated communication services in Latin America.

% Acquisition 99.44%

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