MEXICO CITY, April 26 Mexican telecoms company
America Movil has submitted its proposal for
separating a part of its fixed-line unit Telmex from the rest of
the company, and expects approval in coming months, a company
executive said Wednesday.
The Federal Telecommunications Institute (IFT) on March 8
gave America Movil 65 working days to propose a plan for the
legal separation, part of a bid to open up infrastructure to
"The Federal Telecommunications Institute is already
studying our proposal and has 65-70 days to respond," chief
executive Daniel Hajj said on a conference call with analysts.
America Movil, owned by Mexican billionaire Carlos Slim,
will have up to two years to implement the Telmex separation
once a plan is approved.
Telmex offers fixed telephone lines and the Internet.
America Movil posted a sevenfold increase in its
first-quarter net profit on Tuesday, boosting its shares by more
than 3 percent.
(Reporting By Sheky Espeojo, Writing By Mitra Taj)