America Movil Offers To Buy Telmex For $6.5B

Law360, New York (August 1, 2011, 7:10 PM EDT) -- Mexican billionaire Carlos Slim's telecom company America Movil SAB de CV announced on Monday it is making an offer to buy all outstanding shares of Telefonos de Mexico SAB de CV, or Telmex, for about $6.5 billion in cash.

The purchase price would be $10.50 Mexican pesos (90 cents) a share, which America Movil says is an 11.1 percent premium over the average trading price of Telmex shares on the Mexican Stock Exchange over the past 30 days.

“With this transaction, AMX, a competitive and strong...
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