MEXICO CITY, April 11 AT&T has sold more than
300 million shares in billionaire Carlos Slim's America Movil,
following up on other sales last year, a filing with the U.S.
Securities and Exchange Commission showed on Friday.
AT&T's stake in America Movil, which is Latin
America's biggest phone company, is now about 8.36 percent,
according to Reuters' calculations based on outstanding shares
in America Movil on Friday.
AT&T had about 9 percent of America Movil's stock at
the end of December, a separate filing at that time showed.
Representatives of AT&T and America Movil did not
immediately respond to requests for comment.
The U.S. phone company, a long-term major shareholder in
America Movil, has two seats on the Mexican company's board.
America Movil shares closed down 0.23 percent at 13.05
pesos. The company's shares have dropped 14 percent this year as
Mexico's telecom watchdog has announced a string of measures as
part of a government reform effort to increase competition and
curb dominant companies in Mexico's broadcast and phone markets.
(Reporting by Elinor Comlay; Additional reporting by Marina
Lopes in New York; Editing by Jan Paschal)