Slim Spin Off  

Carlos Slim’s América Móvil is preparing to spin off their cell towers. The telecommunications company said it will submit a plan to shareholders this month to spin off certain mobile assets into a separate company, part of restructuring plan it devised last year in response to strict regulations imposed under new telecom laws, according to The Wall Street Journal. A filing with the Mexican stock exchange showed that the company plans to spin off “passive infrastructure” used by its wireless operations in Mexico. “The company, controlled by billionaire Carlos Slim, said last year that it will spin off its cellular towers in Mexico—around 11,000 of them—into a separate company, which will then lease capacity on the towers to third-party operators. Chief Executive Daniel Hajj has said he expects the spinoff to occur in May or June,” The Wall Street Journal reported.