April 7, 2010 / 12:52 AM / 10 years ago

Slim's tender offers awaiting okay from regulator

MEXICO CITY, April 6 (Reuters) - Billionaire Carlos Slim’s America Movil cellphone operator has yet to receive approval for its planned tender offers for Carso Global Telecom and Telmex Internacional, Mexico’s market regulator said on Tuesday.

In filings to Mexican and U.S. securities regulators America Movil had set a working date of Wednesday, April 7 to launch its share offers. A company official said the goal was still to begin the offer on Wednesday, but that it could be delayed by one or two days.

“The paperwork is in process, it’s still not complete,” National Bank and Securities Commission spokesman Carlos Lopez-Moctezuma told Reuters. The Commission is Mexico’s main market regulator.

All three companies are controlled by Slim, the world’s richest man, who is aiming to consolidate his Latin American telecommunications assets within America Movil (AMXL.MX), the region’s biggest mobile phone operator.

Mexico’s competition commission signed off in February on Slim’s plan, which would put control of dominant Mexican fixed-line operator Telmex TELMEXL.MXTMX.N, which he also controls, under his flagship America Movil.

Mexico’s Telmex is controlled by holding company Carso Global Telecom TELECOMA1.MX. Telmex Internacional, known as Telint TELINTL.MXTII.N, has fixed-line and Internet operations in Brazil, Chile and other countries Latin America. (Reporting by Noel Randewich; editing by Carol Bishopric)

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