NEW YORK (TheStreet) -- Shares of Carlos Slim's America Movil SAB de CV (AMX) closed down 2.27% to $22.85 after AT&T (T) CEO Randall Stephenson said its $1.7 billion purchase of number three carrier lusacell would allow it to compete without Movil's assets, putting Slim's timetable for a deal in jeopardy, Reuters reports.
"We believe we have found a path that gets us a nice scalable growth platform without the America Movil assets," Stephenson said.
The longer the deal takes, the longer the America Movil is subject to tough antitrust regulations including zero interconnection rates and forced infrastructure sharing, which are already affecting its results, Reuters added.
Must Read: Warren Buffett's 25 Favorite Stocks
Separately, TheStreet Ratings team rates AMERICA MOVIL SA DE CV as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate AMERICA MOVIL SA DE CV (AMX) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, growth in earnings per share, expanding profit margins and increase in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."