Audio – America Movil to focus on profits after shopping spree

March 22, 2007

amxpic.jpgFor the past few years, America Movil embarked on a shopping spree that helped it consolidate its position as the No. 1 cellular phone service provider across Latin America. With over 125 million clients extending from the United States to Argentina, the company will now focus on boosting profit margins this year.

But the few countries in the region where it still does not have a presence — Panama, Bolivia, Venezuela and other small Caribbean nations — will remain in the company’s radar for when an acquisition opportunity surfaces, America Movil’s Chief Financial Officer Carlos Garcia Moreno told Reuters Latin American Investment Summit.

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