America Movil SAB de CV (ADR) (NYSE:AMX) decided to acquire a 21% stake in Telekom Austria AG (ADR) (PINK:TKAGY) from investor Ronny Pecik, expanding Mexican billionaire Carlos Slim’s venture into Europe.
The company reported in the filing on Friday that Slim’s wireless corporation purchased 5% of the shares and would purchase 16% later current year after regulatory endorsement.
A person, with knowledge about the matter but refused to not to be identified as the deal is secret, stated that America Movil paid almost 9.50 euros per share. Shares of Telekom Austria moved up 2.2% to 8.21 euros at 3:57 AM in Vienna, worth the 21%b stake at 766 million euros or $967 million.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Telefonica S.A. (ADR) (NYSE:TEF) increased +0.48% to settle at $12.52, Telecom Argentina S.A. (ADR) (NYSE:TEO) moved down -8.09% to end at $10.00 while NII Holdings, Inc (NASDAQ:NIHD) jumped +3.95% to finish on Friday at $11.59.
America Movil SAB de CV (ADR) (NYSE:AMX) began the last trading session with a price of $24.10 and throughout the session climbed at a high of $24.18 but when day-trade ended the stock finally advanced +0.08% to $24.11.
AMX had a trade volume of 8.07 million shares was slightly lower as compared to average trading capacity of 8.37 million shares.
The stock is ahead its 52 week low with +17.35% and lagging behind from its 52 week high price with -15.31%. AMX last month stock price volatility remained 2.27%. In its share capital AMX has 3.81 billion outstanding shares among them 2.41 billion shares have been floated in market exchange. AMX stock institutional ownership remained 27.16%.
Shares price of AMX moved down from its 20 days moving average with +1.52% and remote negatively from 50 days moving average with -1.76%. AMX current year earnings per share experienced a downfall of -8.59% while its current quarter performance remained +1.08%. Company’s beta coefficient included 1.25. Beta factors measures the amount of market risk associated with market trade.
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