NEW YORK (TheStreet) -- America Movil SAB de CV's (AMX) Carlos Slim is planning on investing more in South American countries while expanding his holdings in industries beyond telecommunications, as regulatory pressure in Mexico forced him to break up his phone business, Bloomberg reports.
Mexico's Congress is looking to pass a bill that would impose profit crushing penalties on industry dominant companies, as a result America Movil agreed to reduce its market share to below 50% by selling off some assets.
Slim is planning on refocusing his investments in order to take advantage of inexpensive borrowing costs.
Must Read: Warren Buffett's 25 Favorite Stocks
Slim already has holdings beyond Mexico and the telecommunications industry, Bloomberg added, but the 74-year old CEO is planning to spend more on energy, infrastructure, and real estate across Latin America, with particular interest in Brazil, Colombia, and Peru.
Separately, TheStreet Ratings team rates AMERICA MOVIL SA DE CV as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMERICA MOVIL SA DE CV (AMX) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and generally higher debt management risk."