América Móvil 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, also owned by the Slim family.
Through a statement issued to the Mexican Stock Exchange (BMV), the company controlled by Carlos Slim explained that Sitios Latam operates independently in the capital structure and administration of América Móvil.
The towers of Sitios Latam, whose business is focused on building, operating and marketing towers and other structures for the installation of telecommunications equipment, may be accessed and used by all wireless telecommunications service operators in the Latin American countries in which which has towers and operates: Argentina, Brazil, Chile, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Puerto Rico and Uruguay.
Likewise, the company has started the construction of new towers in Peru. Its inventory of towers in the jurisdictions where it operates is 29,090 in aggregate. 39% of which are in Brazil. Latam Sites will continue to evaluate growth opportunities in the region.
In September of last year, the shareholders of Carlos Slim's company approved in an extraordinary meeting the spin-off of its tower business in Latin America.
