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America Movil informs about the status of the mobile license of its Ecuadorian subsidiary
MEXICO CITY, MEXICO, April 30, 2008 -- America Movil, 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 National Telecommunications Board of Ecuador (Consejo Nacional de Telecomunicaciones del Ecuador Conatel) about the rejection of its economic offer for the renewal of its mobile telecommunications license and the termination of the negotiation period established for such renewal. The notice received today sets forth the commencement by the Ecuadorian authorities of the process for the reversal of the license and the equipments used for the provision of the mobile telecommunications service in favor of the Ecuadorian State in accordance with applicable laws and regulations.
Conecel holds this license and provides mobile services in Ecuador since 1993 to more than 7 million people and its license expires in August 2008.
About AMX
AMX is the leading provider of wireless services in Latin America. As of March 31, 2008, it had 159.2 million wireless subscribers and 3.9 million landlines in the Americas.
Legal Disclaimer
This press release contains certain forward-looking statements that reflect the current views and/or expectations of the Company 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. América Móvil 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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