EconomyAmérica Móvil rises more than 5% on the Stock...

América Móvil rises more than 5% on the Stock Market after authorization of the Sites listing

América Móvil shares led the advance on the Mexican Stock Exchange (BMV), after it reported the day before that the local stock market regulator authorized the registration of the shares of its spun-off unit Sitios Latinoamérica.

The shares of América Móvil, the jewel in the crown of magnate Carlos Slim's empire, rose 5.4% to 17.55 pesos, their best level since August 30.

The company said that every 20 América Móvil titles will give the right to receive a paper from the new firm, which was born from the separation of the tower business in the region.

Sites Latin America's shares will begin trading on September 29 in the market, he added.

At the beginning of August, the firm finalized the spin-off of its telecommunications towers in 13 Latin American countries, which implies the transfer of assets, liabilities and capital to the company Sitios Latam, which operates independently in capital structure and administration. of America Movil.

Sitios Latam is focused on building, operating and marketing towers and other structures for the installation of telecommunications equipment.

With information from Reuters.

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