AT&T, America Movil have own agendas

(Adds more analyst comment, updates share prices)

By Ritsuko Ando and Chris Aspin

NEW YORK/MEXICO CITY, April 2 (Reuters) - Top U.S. telephone company AT&T Inc. (T.N: Quote, Profile, Research, Stock Buzz) and Mexican mobile phone operator America Movil (AMXL.MX: Quote, Profile, Research, Stock Buzz)(AMX.N: Quote, Profile, Research, Stock Buzz) have separate agendas as they jointly bid for a stake in Telecom Italia SpA (TLIT.MI: Quote, Profile, Research, Stock Buzz).

AT&T wants to expand in Europe amid a decline in fixed-line services in the United States, while America Movil, owned by billionaire Carlos Slim, seeks to boost its supremacy in Latin America by taking over Telecom Italia's Brazilian operations.

The companies have offered about 4.5 billion euros ($6 billion), according to Reuters calculations, for a third each of holding company Olimpia, which is Telecom Italia's top shareholder with an 18 percent stake. San Antonio, Texas-based AT&T owns 8 percent of America Movil.

AT&T said the investment was part of effort to expand its global business and was key to serving corporate customers -- many of which do business abroad.

"We've been beefing up our capabilities with enterprise customers," said AT&T spokesman Michael Coe. "We're now a global company with multinational customers and we're investing organically and in partnerships such as this."

AT&T has relied on growth in consumer wireless and high- speed Internet subscriptions, but wants to build its corporate business, one of its weaker segments.