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América Móvil informs about the situation of its subsidiary in Ecuador"
MÉXICO, CITY, MÉXICO, November 9 2007 -- América Móvil, S.A.B. de C.V. (AMX) (BMV: AMX; NYSE: AMX; Nasdaq: AMOV; LATIBEX: XAMXL) announced that its Ecuadorian subsidiary, Consorcio Ecuatoriano de Telecomunicaciones S.A., Conecel (Conecel), has been notified by the Ecuadorian Telecommunications Agency (Secretaría Nacional de Telecomunicaciones Senatel) about the commencement of an administrative proceeding for the termination of its license to provide mobile telecommunication services in Ecuador for alleged violations of certain service requirements in the license. Conecel has held this license and provided mobile service in Ecuador since 1993, and the license expires in August 2008. In accordance with its mobile license agreement, Conecel has a period of 30 days to demonstrate compliance with the terms and conditions of the license. In addition, Conecel may pursue dispute resolution procedures under the agreement or under law.
About AMX
AMX is the leading provider of wireless services in Latin America. As of September 30, 2007, it had 143 million wireless subscribers and 3.8 million landlines in the Americas.
Legal Disclaimer
This press release contains certain forward-looking statements that reflect the current views and/or expectations of AMX and its management with respect to its performance, business and future events. We use words such as believe, anticipate, plan, expect, intend, target, estimate, project, predict, forecast, guideline, should and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. AMX is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
AMÉRICA MÓVIL, S.A.B. DE C.V.
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Carlos García Moreno
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Name: Title: |
Carlos García Moreno
Chief Financial Officer
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