February 12, 2020 / 3:34 PM / 2 months ago

Mexico's America Movil to spend $8.5 bln in 2020, in line with last year

MEXICO CITY, Feb 12 (Reuters) - Mexico’s America Movil expects to spend $8.5 billion on capital expenditures in 2020, on par with last year, as the company rolls out 5G technology in Latin America, an executive said on Wednesday during a call with analysts.

Shares of America Movil surged on Wednesday after the company reported an increase in fourth-quarter net profit. (Reporting by Julia Love)

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