America Movil News
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Royal KPN NV, the Dutch phone operator partly owned by Carlos Slim’s America Movil SAB, raised about 2.92 billion euros ($3.78 billion) in a share sale as investors took up 97.4 percent of the offered rights.
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A Mexican law to boost competition in telecommunications and media gained approval from a majority of state legislatures, surmounting its final hurdle for passage.
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After a group of protesters denounced Carlos Slim and marched out of the room playing Darth Vader’s theme song on kazoos, a companion of the Mexican billionaire smiled at him and said, “Welcome to New York.”
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The world’s 200 richest people added $17.5 billion to their aggregate wealth this week as U.S. jobless claims fell to a five-year low, bolstering optimism in the economy.
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Telekom Austria AG, the country’s biggest phone company, rose the most in almost five weeks after its first-quarter earnings beat analysts’ estimates while a decline in revenue was cushioned by business in Belarus.
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Telekom Austria AG, the nation’s biggest phone company, said first-quarter earnings fell as market conditions in Austria and Bulgaria remained difficult.
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Ecuador’s anti-monopoly watchdog, seeking to improve mobile-phone coverage, suspended about 2,000 exclusive contracts used by carriers such as America Movil SAB to get prime locations for network towers.
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Mexican President Enrique Pena Nieto hopes to use U.S. President Barack Obama’s visit to affirm one crucial theme: that his country is much more than the sum of its problems. During a whirlwind first 100 days, he has already pushed through significant reforms to strengthen Mexico’s notoriously mediocre educational system and to deliver Mexicans from costly and oppressive monopolies.
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NII Holdings Inc., the provider of Nextel-branded service in Latin America, rose as much as 8.6 percent after adding users and naming interim Chief Executive Officer Steven Shindler to the job permanently.
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Mexico’s Senate passed a final version of a bill to create more competition in telecommunications, sending it to state governments for approval.
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