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.
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.
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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