Friday, June 07, 2013

AT&T sells it shares of American Movil in Mexico

AT&T has netted about $564 million in proceeds from selling 7.5% of the stake it has in America Movil, which operates in Mexico.

AT&T sold the shares between May 7 and June 4, according to documents filed with the U.S. Securities and Exchange Commission.

AT&T traditionally maintains a 9% stake in America Movil, and has two employees on the board. The company said it does not plan to sell its entire stake in America Movil.