June 16, 2010 / 2:41 PM / 9 years ago

America Movil pays $2 bln to Telint shareholders

MEXICO CITY, June 16 (Reuters) - Latin American wireless company America Movil said on Wednesday it paid $2.12 billion to Telmex Internacional holders who tendered their shares for cash as part of a bid by tycoon Carlos Slim to consolidate his telecom holdings.

America Movil (AMXL.MX) (AMX.N), controlled by Slim, said it also issued 1.35 billion of its L shares to shareholders who opted for stock in exchange for their Telmex Internacional TELINTL.MX TII.N shares, which are majority-owned by Slim.

Based on final results, America Movil acquired 93.56 percent of Telmex Internacional, just short of the 95 percent it needed to delist it from the local exchange, although the company’s chief executive told Reuters earlier this week a delisting from New York was imminent.

America Movil now owns 99.44 percent of Carso Global Telecom TELECOMA1.MX shares, the other portion of its consolidation plan.

Reacting to tougher regional competition, Slim is shifting control of his Latin American telecom assets into his flagship America Movil to create a company better positioned to take on arch-rival Telefonica (TEF.MC). (Reporting by Patrick Rucker, editing by Gerald E. McCormick)

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