America Movil stock falls 5 pct after AT&T plans divestment

MEXICO CITY Mon May 19, 2014 9:42am EDT

MEXICO CITY May 19 (Reuters) - Shares in America Movil , the telecoms giant controlled by Carlos Slim, fell more than 5 percent in early trade on Monday after U.S. peer AT&T said it would sell its roughly 8 percent stake in the Mexican firm and withdraw its board members.

AT&T announced the plans on Sunday in order to help it gain regulatory approval for its purchase of DirecTV.

(Reporting by Christine Murray)

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