Mexican Tycoon Carlos Slim Sets Up New Company To Spin Off Assets And Avoid Anti-Trust Sanctions

América Móvil, Mexican billionaire Carlos Slim Helú’s telecom giant, announced Wednesday it has called for an Extraordinary Shareholders’ meeting to propose a spin off of its cell phone tower operations into Telesites, a new independent company. The meeting is set for April 17 in Mexico City.

America Móvil explained that under the spin off plan, shareholders would receive the same number and series of Telesites shares as they currently have in América Móvil when the infrastructure assets are spun off to the newly created company

Information Forbes
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