EconomyFinancialLAST MINUTE: América Móvil will pay 350 million dollars...

LAST MINUTE: América Móvil will pay 350 million dollars in rent to Latin American Sites

América Móvil revealed in a conference with analysts that it will pay 350 million dollars for the rental of towers of the company Sitios Latinoamérica, whose infrastructure is relevant for the development of the 5G network and one of the company’s great bets to capture higher income. It will also sell its cell towers in Peru and the Dominican Republic after spinning off that segment of its business in Latin America.

América Móvil began the deployment of 5G in 18 cities in February and at the end of the third quarter it already had coverage in 64 cities. The company capitalizes on the fifth generation in networks with rental plans that start at 599 pesos.

Currently, the company controlled by Carlos Slim refines its user base to focus on those with the highest income in its 5G mobile segment to obtain higher sales. The strategy is paying off. In the third quarter of the year, the telecommunications company reported mobile revenues of 41,042 million pesos, which implies an increase in its revenues of 9.7% compared to the same period last year, largely thanks to its 5G postpaid plans. .

To accelerate the deployment of 5G, the company will rely on the leasing of towers from the company Sitios Latam, which was born from the spin-off of the América Móvil tower business in 13 Latin American countries, which involved the transfer of assets, liabilities and capital to the company Sitios Latam, also owned by the Slim family.

The new company Sitios Latam operates independently in the capital structure and administration of América Móvil. The business of the new company is focused on building, operating and marketing towers and other structures for the installation of telecommunications equipment that can be accessed and used by all wireless telecommunications service operators in the Latin American countries where it has with 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.

With information from Reuters

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