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AT&T Expects $25 Billion Increase After Partnering with Carlos Slim

Business, Companies
AT&T Expects $25 Billion Increase After Partnering with Carlos Slim

If advanced reports are to be believed, AT&T will collaborate with billionaire Carlos Slim, chairman and CEO of American Movil, to expand their share of the Latin American mobile network market.

An At&T logo is seen atop a store in Beverly Hills, California

The partnership should come as no big surprise as the U.S.-based AT&T owns a 7.5-percent share in the Mexican-based American Movil after AT&T sold 540 million of its American Movil shares last June.

In 2012, AT&T’s revenue was listed at more than US$ 127 billion, while American Movil’s was at more than US$ 59 billion.

Currently AT&T’s interests in Latin America are focused primarily on Brazil and Mexico, but the expected deal will allow AT&T to do business in Argentina, Colombia, and Chile, among other Latin American territories. This will be made possible through the established networks of America Movil in these markets.

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New research by Analysys Mason showed that the retail value of the telecom industry in Latin America is projected to increase from U.S. $142 billion in 2012 to U.S. $167 billion in 2017.

It is further speculated that AT&T and America Movil will also work together to expand their market share in Europe as AT&T has reportedly been looking into expansion possibilities in the continent.

As of press time, the terms of the agreement between the two mobile network giants have yet to be revealed.

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