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América Móvil to acquire Verizons interest in Verizon Dominicana and Telecomunicaciones de Puerto Rico
América Móvil, S.A. de C.V.(América Móvil) (BMV: AMX; NYSE: AMX; Nasdaq: AMOV; LATIBEX: XAMXL) today announced that it has entered into agreements with Verizon Communications Inc. (Verizon) to acquire Verizons 100% interest in Verizon Dominicana, C. por A. (Verizon Dominicana) for a purchase price of U.S.$2,062 million and a 52% interest in Telecomunicaciones de Puerto Rico Inc. (PRT) for a purchase price of U.S.$939 million.
Verizon Dominicana is the largest telecommunications service provider in the Dominican Republic with over 752 thousand wireline subscribers and 1.8 million wireless subscribers as of December 31, 2005. PRT is the largest telecommunications service provider in Puerto Rico with over 1.1 million wireline subscribers and 485 thousand wireless subscribers as of December 31, 2005. América Móvil has agreed with Verizon to extend an offer to all other PRT shareholders to purchase their shares at the same price per share paid to Verizon.
As separately announced today, a joint venture between Teléfonos de México, S.A. de C.V. (Telmex) and América Móvil has entered into an agreement with Verizon to purchase Verizons equity interest in Compañía Anónima Nacional Teléfonos de Venezuela (CANTV).
About América MóvilAmérica Móvil is the leading provider of wireless services in Latin America, with over 93.3 million wireless subscribers December 31, 2005. The company also provides wireline services to 2 million landlines as of December 31, 2005.
This press release may contain 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. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance, or achievements, and may contain words like "believe", "anticipate", "expect", "envisages", "will likely result", or any other words or phrases of similar meaning. 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 report. In no event, neither the Company nor any of its subsidiaries, affiliates, directors, officers, agents or employees shall be liable before any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this press release or for any consequential, special or similar damages.
AMERICA MOVIL, S.A. DE C.V.
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Carlos Garcia Moreno
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Carlos Garcia Moreno
Chief Financial Officer
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