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Bank of America hired to sell America Movil assets - Bloomberg
September 1, 2014 / 1:01 AM / 3 years ago

Bank of America hired to sell America Movil assets - Bloomberg

(Reuters) - America Movil SAB (AMXL.MX), the wireless provider controlled by Mexican billionaire Carlos Slim, has hired Bank of America Corp (BAC.N) to sell certain phone assets as part of a breakup plan to appease Mexican lawmakers, Bloomberg said, citing people familiar with the matter.

A Bank Of America sign is pictured in the Manhattan borough of New York August 21, 2014. REUTERS/Carlo Allegri

America Movil is attempting to sell parts of its Mexican operations to reduce its market share below 50 percent and avoid new regulations designed to curb its dominance, Bloomberg said, noting the company announced plans for the asset sale in July.

Officials at America Movil and Bank of America could not immediately be reached for comment.

Reporting by Ransdell Pierson; Editing by Sandra Maler

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