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America Movil says shareholders approve plan for towers spin-off By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – The company logo is displayed on the wall in a reception room in Mexico City’s corporate office, Mexico City. It was pictured May 18, 2017. REUTERS/Edgard Garrido/File Photo

MEXICO CITY (Reuters) – A plan by Mexican telecoms company America Movil (NYSE:) to spin off some of its towers in Latin America was approved by shareholders on Wednesday, the firm said in a filing with the Mexican stock exchange.

America Movil, controlled by the family of Mexican billionaire Carlos Slim, said the spinoff will be a newly created company called Sitio Latinoamérica.

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