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América Móvil's Management Discusses AMX´s Strategy On Potential Acquisitions In Europe Conference (Transcript)

América Móvil, S.A.B. de C.V. (AMOV)

AMX´s Strategy on Potential Acquisitions in Europe Conference Call

June 21, 2012 01:30 pm ET


Carlos García-Moreno - CFO


Andrew Campbell - Credit Suisse

Vera Rossi - Barclays

Andre Baggio - JPMorgan

Rizwan Ali - Deutsche Bank

Mauricio Fernandes - Merrill Lynch

Stanley Martinez - Legal & General

James Ratzer - New Street Research



Good day ladies and gentlemen and welcome to the América Móvil corporate conference call and webcast to discuss this strategy and potential acquisitions in Europe. My name is Alicia and I will be your operator for today. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this conference is being recorded for replay purposes.

I would now like to introduce your host for today, Mr. Carlos García-Moreno, Chief Financial Officer. Please proceed.

Carlos García-Moreno

Thank you, good afternoon everyone. Good evening to some of you. We have decided to have this conference call so that we could give you a bit more of a feel for how it is that we have been backing our decisions to make a move into Europe. We believe you have been following some of these from the press already we left here about a week, but as it is important that we give you an overview, a more comprehensive overview of América Móvil’s thinking in terms how and why to go into Europe.

If you recall in America, in Latin America, we are today investing cleverly. We are seeing good organic growth and we expect growth to continue to be fairly solid for a number of years. And that means although we are investing heavily on our networks, we are now investing, I believe we invested about $10 billion and this year it is going to be probably higher, and that we have audited those will turn roughly about $9.5 billion we are looking at for the year.

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