América Móvil (NYSE: AMX), headquartered in Mexico City, Mexico, has completed the spin-off of its telecommunications towers and other associated infrastructure in certain Latin America countries. AMX announced in late 2021 its intentions to separate its passive infrastructure assets from its telecom operations. Having received shareholder approval for the transaction, certain assets, liabilities, and capital have been transferred to a new company named Sitios Latinoamérica, S.A.B. de C.V. (Sitios Latam), a Mexican company, that is independent from AMX’s management and capital structure.
Sitios Latam’s business focuses on the construction, operation and marketing of towers and other structures for cell site and base station equipment deployments. Its towers will be available for access and use by all mobile network operators in Latin American countries including Argentina, Brazil, Chile, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panamá, Paraguay, Puerto Rico, and Uruguay. In addition, Sitios Latam has started constructing towers in Peru.
On day one of its standalone operations, Sitios Latam has an inventory of 29,090 sites across its 13-country footprint. Brazil is the company’s largest market, accounting for 39 percent of the total. Sitios Latam will continue to evaluate growth opportunities throughout the region.
This AMX transaction is in line with similar moves by other MNOs around the world, as Inside Towers has reported. These MNOs are attempting to maximize the value of their tower and other passive infrastructure assets by spinning them off as a standalone company, selling them outright or offering stakes to investor groups.