September 6, 2017 / 8:30 PM / a year ago

America Movil says reaches agreement to sell stake in soccer clubs

MEXICO CITY, Sept 6 (Reuters) - America Movil, the telecommunications giant of Mexican mogul Carlos Slim, said on Wednesday that it had reached an agreement to sell its 30 percent stake in a group of Mexican soccer clubs.

In 2012, the company bought stakes in the Pachuca soccer club, the nation’s oldest team, as well as the Leon club. The clubs’ ownership will retake control of America Movil’s stakes.

As part of the transaction, America Movil will retain certain broadcasting rights for the national clubs in Pachuca, Leon and Mineros de Zacatecas, the company said. (Reporting by Julia Love)

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