America Movil prepares spending target after Telefonica Chile sells to rivals

MEXICO CITY: Mexican telecom giant America Movil is preliminarily targeting a capital expenditure of 14%-15% of revenues for 2026 and the coming years, finance chief Carlos Garcia said on Wednesday, following the company’s fourth-quarter results.

Speaking in a conference call, ‌Garcia said ⁠this remained ⁠to be finalized. He added that the company will be making the investments necessary to remain competitive in Chile after French holding company NJJ and Luxembourg-based Millicom succeeded on Tuesday in talks to buy Telefonica’s unit there for $1.2 billion.