Mexico’s America Movil says Chile venture to be fully capitalized by end of 2024

MEXICO CITY: Mexican telecommunications giant America Movil’s Chilean venture ClaroVTR will be fully capitalized by the end of the year, America Movil CFO Carlos Garcia Moreno said in an earnings call on Wednesday.

In June, America Movil acquired a dominant stake in cable and mobile phone operator ClaroVTR, which had been shared equally with Liberty Latin America. America Movil will transform the convertible notes it holds in ClaroVTR into shares to obtain a controlling interest of around 91%.