Mexican telecommunications powerhouse America Movil is set to prioritize the expansion of its 5G wireless network across its operational markets, particularly in Latin America, as part of its strategic goals for 2025. The announcement was made by the company’s top executive during a third-quarter earnings call on Wednesday.
Controlled by billionaire Carlos Slim’s family, America Movil had previously earmarked $7 billion in capital expenditure for this year, with a significant focus on advancing 5G infrastructure. This next-generation technology promises faster data upload and download speeds along with more reliable connections.
CEO Daniel Hajj reaffirmed the company’s commitment to 5G deployment, stating, “The ongoing adoption of the technology will continue the same way for 2025,” with particular emphasis on expanding services in Mexico and other Latin American countries.
Meanwhile, CFO Daniel Garcia indicated that the company is exploring additional financing options in specific markets, including Peru, Colombia, and Brazil, which would involve refinancing existing debt without increasing overall debt levels.
These remarks come after America Movil’s third-quarter performance in Mexico fell short of market expectations. However, analysts at JPMorgan noted the company’s robust results in Brazil and Colombia, reflecting a mixed performance across the region.
Following the earnings call, America Movil’s shares rose by over 3%, building on gains reported after the company announced it had more than tripled its quarterly profit.
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