CORPORATE GOVERNANCE

CORPORATE GOVERNANCE

America Movil Trims 2024 Capex To US$7 Billion On Less Spectrum Spend

By Cassandra Garrison and Sarah Morland Mexican telecommunications giant America Movil said on Wednesday it expected reduced capital expenditure of around US$7 billion this year, following years of significant spending on buying spectrum and refreshing its network infrastructure. This compares with spending of US$8.6 billion in 2023. In a call with analysts, finance chief Carlos Garcia said the reduced capex was the result of significant prior spending on wireless infrastructure. This year, Garcia said, the firm's only significant spectrum spend should be in Ecuador. "We're in very good shape right...
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