UPDATE 2-America Movil sees savings, not shopping in U.S.

* America Movil eyes synergies from consolidation

* Company sees transaction complete in second quarter

* No infrastructure acquisitions in U.S. (Adds detail on U.S. operation, background, byline)

By Noel Randewich and Tomas Sarmiento

MEXICO CITY, Feb 3 (Reuters) - America Movil (AMXL.MX) (AMX.N), controlled by tycoon Carlos Slim, expects tax benefits and other synergies from its purchase of Telmex Internacional and a majority stake in Telmex, executives said on Wednesday.

Reacting to tougher competition in the region, Slim unveiled a $21 billion plan last month to shift control of his Mexican fixed-line operator Telmex (TELMEXL.MX) and regional fixed-line group Telmex Internacional TELINTL.MX into his flagship America Movil.

"We still don't have the numbers but we're going to have tax synergies and other synergies," America Movil Chief Financial Officer Carlos Garcia-Moreno told analysts during a conference call.

America Movil Chief Executive Daniel Hajj also said the company does not plan to expand its U.S. unit TracFone Wireless' virtual network through acquisitions of infrastructure.

Garcia-Moreno said the exact savings from the consolidation of America Movil, Telmex and Telmex Internacional would depend in part on how the companies are integrated, which is yet to be finalized.

Slim plans to absorb Telmex Internacional into America Movil, the largest cellphone operator in Latin America, and delist the fixed-line operator from the stock exchange. The minority of Telmex not controlled by Slim would continue to trade on the stock market.

The plan is meant to create a much larger and stronger operator, extending from the United States to Argentina, able to offer wireless, fixed-phone, Internet and video services to counter rising competition from regional rivals such as Spain's Telefonica SA (TEF.MC).

Although regulators have not yet approved the transaction, America Movil expects it to close in the second quarter.

TRACFONE GROWTH

In the United States last year, TracFone teamed up with Wal-Mart Stores Inc (WMT.N) to offer a cut-price wireless service called Straight Talk using Verizon Wireless's network.

That venture has increased pressure on Leap Wireless International Inc (LEAP.O), MetroPCS Communications Inc (PCS.N), Sprint Nextel Corp's (S.N) Boost Mobile and other low-cost carriers.

Investors in recent months have speculated that another wireless carrier could buy MetroPCS or Leap, which has hired Goldman Sachs and Morgan Stanley to advise it on a possible sale.

"The new product Straight Talk is working very well and we're going to grow as much as possible, but in a profitable way," Hajj said.

America Movil reported a 17.2 percent fall in fourth-quarter net profit on Tuesday, missing analysts' expectations as it paid more income taxes in the quarter. (Additional reporting by Cyntia Barrera Diaz; Editing by Gerald E. McCormick)