América Móvil’s shareholders have approved plans to create a new tower company, Sitios Latinoamérica which will be listed on the Mexican Stock Exchange. América Móvil’s portfolio of c. 36,000 sites, which are split across 15 markets, will move into the entity, with América Móvil shareholders to receive equal shares in the new towerco. TowerXchange examines the news and the implication for the CALA tower market.
As reported by TowerXchange, in February 2021, América Móvil’s Board of Directors approved a plan to spin off the operator’s tower portfolio into a separate entity. At an extraordinary general meeting held on 29 September, América Móvil’s shareholders voted to move forward with plans to form a new public company - Sitios Latinoamérica - which would be separately listed on the Mexico stock exchange.
