America Móvil announced its intention to begin the necessary actions for the cancellation of the registration from the Mexican National Securities Registry of TELMEX’s shares
Mexico City, August 17, 2012. Teléfonos de Mexico, S.A.B. de C.V. (TELMEX) (BMV: TELMEX) announces it was informed that América Móvil, S.A.B. de C.V. (BMV: AMX; NYSE: AMX; NASDAQ: AMOV; LATIBEX: XAMXL) intends to begin the necessary actions for the cancellation of the registration from the Mexican National Securities Registry of TELMEX’s shares, as described below:
"AMÉRICA MÓVIL ANNOUNCES ITS INTENTION TO BEGIN THE NECESSARY ACTIONS FOR THE CANCELLATION OF THE REGISTRATION FROM THE MEXICAN NATIONAL SECURITIES REGISTRY OF TELMEX’S SHARES"
Mexico City, August 16, 2012. América Móvil, S.A.B. de C.V. ("AMX") (BMV: AMX; NYSE: AMX; NASDAQ: AMOV; LATIBEX: XAMXL), announced today its intention to begin the necessary actions for the cancellation of the registration from the Mexican National Securities Registry maintained by the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores or "CNBV"), of shares representing the capital stock of its subsidiary Teléfonos de Mexico, S.A.B. de C.V. ("TELMEX"). In the upcoming days and as a part of these actions, AMX will request the CNBV and the Mexican Stock Exchange (Bolsa Mexicana de Valores or “BMV"), respectively, for their authorizations to launch a tender offer (the "Exclusion Offer") pursuant to Article 108 of the Mexican Securities Market Law (Ley de Mercado de Valores), for up to approximately 2.79% of TELMEX’s outstanding capital stock, which is represented by the current share certificates issued in 2008, excluding those TELMEX shares currently owned directly or indirectly by AMX, at a TELMEX share purchase price of $10.2250 payable in cash and in Mexican pesos (the "Purchase Price").
The Purchase Price to be proposed by AMX under the Exclusion Offer is equivalent to the purchase price paid by AMX in the tender offer for the 40.04% of TELMEX’s outstanding capital stock that expired in November 2011, which has been proportionally adjusted as a result of the dividend payments made after the completion of such tender offer.
In addition to TELMEX’s outstanding shares already owned by AMX to this date, this acquisition could result in AMX holding, directly or indirectly, all shares representing TELMEX’s capital stock.
The offer would be subject to obtaining the necessary authorizations, including the authorization of the National Banking and Securities Commission and any other that may be required.
TELMEX and its subsidiaries provide telecommunications services in Mexico. The Company’s service coverage comprises the operation of the nation’s most complete local and long distance networks. Additionally, TELMEX offers services like connectivity, Internet access, co-location, web hosting and interconnection services to other telecommunications operators.
Limitation of Liability: This press release contains certain forecasts or projections, which reflect the current views or expectations of the Company and its management with respect to its performance, business and future events. The forecasts may include, without limitation, any statement that may predict, indicate or imply future results, performance or achievements, and may contain terms such as “believe”, “anticipate”, “expect”, “in our opinion”, “will probably result in” or any other words or phrases of similar meaning. Such statements are subject to certain risks, uncertainties and assumptions. Please be advised that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. In no event shall the Company or any of its subsidiaries, affiliates, directors, officers, agents or employees be liable to third parties (including investors) for any investment decision made or action taken in reliance on the information contained in this press release or for any consequential, special or similar damages.