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☆ Here are Monday's biggest analyst calls: Apple, Nvidia, AT&T, Tesla, Shopify, Super Micro Computer and more
▼ + stars: | 2024-04-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Evercore ISI reiterates Tesla as in line Evercore ISI lowered its price target on Tesla to $145 per share from $155. Barclays upgrades AT & T to overweight from equal weight Barclays sees "growth quality" for the telecommunications and wireless provider. Barclays downgrades Lululemon to equal weight from overweight Barclays downgraded the maker of athleisure wear due to rising competition. "We initiate coverage of Dave Inc. with a Market Outperform rating and $70 price target representing ~65% upside from the current price." "We are upgrading GWW from EW to OW, while raising our price target from $1,000 to $1,250."

Persons: Evercore, Tesla, Jefferies, LUV, Lululemon, LULU, Dave, Oppenheimer, Instacart, Bernstein, Goldman Sachs, William Blair, Eastman, Morgan Stanley, Berenberg, Melius, Price, Stephens, Grainger Organizations: Airlines, Jefferies, Southwest Airlines, Dynamics, Barclays, Dave Inc, JPMorgan, CART, Apple, Eastman Chemical, Arista Networks, Nvidia, Data, Citi Locations: Americas, China, Tulsa , Oklahoma, Kingsport , Tennessee

☆ Michael Bloomberg is worth an estimated $106 billion — but you won't find him on the Bloomberg rich list
▼ + stars: | 2024-04-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Read previewThe release of Forbes' annual rundown of the world's billionaires has underlined a glaring omission from the Bloomberg Billionaires Index: Michael Bloomberg himself. Forbes ranked the 82-year-old Bloomberg LP founder in 12th place with an estimated $106 billion fortune as of March 8. Based on Forbes' wealth estimate, Bloomberg would be in joint 12th position with Michael Dell (also $106 billion) as of Thursday. Related storiesThe Bloomberg Index's methodology explains why the boss is missing: "Bloomberg News editorial policy is to not cover Bloomberg LP. As a result, Michael Bloomberg, the founder and majority owner of Bloomberg LP, isn't considered for this ranking."

Persons: —, Michael Bloomberg, Sergey Brin, Amancio Ortega, Carlos Slim Helu, Michael Dell, isn't, Forbes, Jensen Huang, Salomon Brothers, He's Organizations: Service, Forbes, Bloomberg, Business, Nvidia, Waltons, CVS Health, GM, New York City's Locations: Inditex, New York

☆ Here are Friday's biggest analyst calls: Nvidia, Nike, Tesla, Coinbase, Arm, Meta, Eli Lilly, UPS, Carvana & more
▼ + stars: | 2024-02-16 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Meta as buy Bank of America said it's bullish on Meta adding the Broadcom CEO to its board of directors. Bank of America reiterates Nvidia as buy Bank of America said it's standing by the stock heading into earnings next week but that a pullback is possible. Baird upgrades UPS to outperform from neutral Baird said in its upgrade of UPS that the risk/reward is too attractive to ignore. Bank of America downgrades Dropbox to underperform from buy Bank of America said the "bull thesis has played out" for the data storage company. Bank of America upgrades Cellebrite to buy from neutral Bank of America said it sees business trends stabilizing for the digital intelligence company.

Persons: it's, Hock Tan, NVDA, Goldman Sachs, Goldman, TD Cowen, Grosvenor, KBW, TTD, Baird, Wells, Tommy Hilfiger, Tommy, Raymond James downgrades Carvana, Raymond James, Wayfair, Oppenheimer, Morgan Stanley, Tesla, Guggenheim, SunPower, Jefferies, Eli Lilly, Roku Organizations: Bank of America, Meta, Broadcom, " Bank of America, Nvidia, Informatica, BMO, Trade, Google, U.S, UPS, JPMorgan, Daiwa, CY2025, UBS, Newell Brands, RBC, Nike, of America, Barclays, Netflix, JPMorgan downgrades Bloom Energy, BE, Pharma Locations: CY24, CY2024, Wayfair, U.S

The chipmaker was initiated with an outperform rating by Loop Capital, which set a Wall Street-high price target that calls for 65% upside. He also raised his price target on U.S.-traded shares to $22.22 from $19.16, implying shares could rise 27% from Thursday's close. It also cut its price target by $1.50 to $8.50, suggesting just 6.2% upside potential from Thursday's closing price. — Hakyung Kim 5:41 a.m.: Oppenheimer downgrades Nike Don't expect much out of Nike shares in the near future, according to Oppenheimer. The firm downgraded the apparel giant to perform from outperform and slashed its price target to $110 per share from $150.

Persons: Oppenheimer, Carvana, Raymond James Carvana's, Raymond James, Mitch Ingles, Ingles, — Hakyung Kim, Jefferies, Alex Wright, Wright, Peter Grom, Chris Peterson's, Grom, Newell, Brian Nagel, Fred Imbert, Ananda Baruah, Hakyung Kim Organizations: CNBC, Nvidia, Nike, Loop, Jefferies, UBS, Newell Brands Consumer, Newell Brands, Nvidia Nvidia, CY2025 Locations: Thursday's, America, CY2024

☆ Mexico Reaches Deal to Buy Highway Concession From Billionaire Slim
▼ + stars: | 2024-02-05 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

MONTERREY, Mexico (Reuters) - Mexican President Andres Manuel Lopez Obrador announced that his government has reached an agreement with local billionaire Carlos Slim to buy the concession to part of a highway still under construction in the southern state of Oaxaca. He sits on the board of directors of Ideal, which is wrapping up construction on the branch of the highway running from the towns of Mitla to Tehuantepec. The highway track, part of a larger stretch running all the way to the city of Oaxaca, will be inaugurated on Aug. 31, Lopez Obrador said. The president, who will leave office later this year, has made infrastructure projects in the historically poorer southern part of Mexico a cornerstone of his administration. (Reporting by Kylie Madry in Mexico City and Laura Gottesdiener in Monterrey; Editing by Paul Simao)

Persons: Andres Manuel Lopez Obrador, Carlos Slim, Lopez Obrador, Slim, Kylie Madry, Laura Gottesdiener, Paul Simao Organizations: America, Grupo Carso, Ideal Locations: MONTERREY, Mexico, Oaxaca, Mitla, Tehuantepec ., Mexico City, Monterrey

☆ Mexico's America Movil denies report it's eyeing Argentine telecoms firm Arsat
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

The logo of America Movil is pictured on the wall at a reception area in the company's corporate offices, in Mexico City, Mexico January 25, 2022. REUTERS/Gustavo Graf/File Photo Acquire Licensing RightsMEXICO CITY, Nov 23 (Reuters) - America Movil (AMXB.MX), the Mexican telecommunications company controlled by billionaire Carlos Slim, on Thursday denied a report it is in talks with Argentine President-elect Javier Milei's team to buy Argentina's state telecoms company Arsat. Citing sources close to the matter, website La Politica Online said plans to sell Arsat are very advanced, and reported that a member of Milei's transition team on Tuesday held talks with executives from America Movil's Argentine unit, Claro. La Politica Online said the value of Arsat was discussed during the talks with a figure of around $930 million mentioned. A spokesperson for Milei's transition team did not immediately respond to a request for comment.

Persons: Gustavo Graf, Carlos Slim, Javier Milei's, Arturo Elias, Slim's, Arsat, Dave Graham, Eliana, Jonathan Oatis, Marguerita Choy Organizations: REUTERS, MEXICO CITY, Argentine, Reuters, Politica, America Movil's, Thomson Locations: Mexico City, Mexico, MEXICO, Mexican, America Movil's Argentine, Claro

ACAPULCO, Mexico, Oct 27 (Reuters) - Looting ravaged the Mexican city of Acapulco after the iconic beach resort was hammered this week by Hurricane Otis, a record-breaking storm that killed at least 27 people and left thousands of residents struggling to get food and water. [1/5]People walk among rubble in the aftermath of Hurricane Otis, in Acapulco, Mexico, October 27, 2023. 'WE WERE LUCKY'Mexican authorities said Otis was the most powerful storm ever to strike Mexico's Pacific coast. To evacuate tourists, an air bridge between Acapulco and Mexico City was being set up on Friday after authorities got the city's battered airport back up and running. Lopez Obrador urged insurance companies to speed up payouts.

Persons: Hurricane Otis, Otis, everything's, Rodolfo Villagomez, Andres Manuel Lopez Obrador, Lopez Obrador, Raul Busto Ramirez, Letitia Murphy, Neil Marshall, Murphy, Quetzalli, we're, Enki, Lopez, Pope Francis, Joe Biden, America Movil, Alexandre Meneghini, Jose Cortes, Diego Ore, Kylie Madry, Laura Gottesdiener, Natalia Siniawski, Dave Graham, Chizu Nomiyama, Bill Berkrot, Sandra Maler, Raju Gopalakrishnan Organizations: Reuters, REUTERS, Central America, LUCKY, Otis, America, Thomson Locations: ACAPULCO, Mexico, Acapulco, Guerrero, Acapulco's, Hurricane, British, State, Mexican, Mexico City, Monterrey, Gdansk

☆ Here are Thursday's biggest analyst calls: Apple, Amazon, Nvidia, Adobe, Pinterest, TJX, SoFi & more
▼ + stars: | 2023-08-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Thursday's biggest calls on Wall Street: Citi reiterates Nvidia as buy Citi said it's bullish heading into Nvidia earnings next week. Citi reiterates Apple as buy Citi said it's bullish heading into the company's iPhone 15 launch. Oppenheimer reiterates Nvidia as outperform Oppenheimer said it's bullish on shares of Nvidia heading into earnings next week. Bank of America reiterates TJX Companies as buy Bank of America said the stock is "well positioned for continued market share gains." Bank of America reiterates Wells Fargo as buy Bank of America said Wells Fargo has one of the most attractive risk/rewards of the big banks.

Persons: it's, Charles Schwab, Jefferies, KeyBanc, Key, Oppenheimer, Rosenblatt, Evercore, Bill Ready, Meta, SoFi, Wells, Wells Fargo Organizations: Citi, Nvidia, NVIDIA, JPMorgan, Deutsche Bank, Deutsche, Novartis, Amgen, Apple, Arista, Networking, BMO, Green, Bank of America, Adobe, of America Adobe, TJX Companies, Enphase Energy Locations: Mexico, Sunrun

☆ Buy this Mexico-based telecom stock after a recent pullback, Citi says
▼ + stars: | 2023-08-17 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Citi says América Móvil's stock recent pullback is a buying opportunity. The firm upgraded the Mexican telecom stock to buy from neutral in a Wednesday note and hiked its price target to $23.50. AMX YTD mountain América Móvil stock has added 2.4% from the start of the year. "Both together are opening what we think is an attractive entry point to add on AMX stocks," Cardona said. "We also see the AMX buyback program as likely to speed up over 2H23 on NWC [can't find what this means] seasonality."

Persons: Andrés Cardona, rebalance, Cardona, — CNBC's Michael Bloom Organizations: Citi

☆ Stocks making the biggest moves midday: Walmart, CVS Health, Wolfspeed and more
▼ + stars: | 2023-08-17 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Cisco Systems — Shares of the computer networking giant added 4% after reporting earnings postmarket Wednesday that beat Wall Street's expectations. Adjusted earnings per share for its fiscal fourth quarter came in at $1.14, topping the $1.06 expected from analysts polled by Refinitiv. Revenue was $15.2 billion, compared with the $15.05 billion expected. The company reported adjusted earnings of $1.84 a share, ahead of the $1.71 expected by analysts polled by Refinitiv. Wolfspeed — Shares of the semiconductor developer dropped 16% following the company's earnings report after the bell Wednesday.

Persons: Mark Cuban's, Rosenblatt, Ball, Adyen, Wolfspeed, América, MSCI rebalance, —, Jesse Pound, Tanaya Macheel, Alex Harring, Samantha Subin, Michelle Fox Theobald Organizations: Cisco Systems —, Refinitiv, Revenue, Walmart, Refinitiv . Revenue, Street Journal, CVS, Blue, California, CVS Caremark, Amazon Pharmacy, FactSet . Investment, BAE Systems, Nasdaq, VinFast, Citi

☆ Walmart Mexico posts slightly higher profit amid June sales uptick
▼ + stars: | 2023-07-27 | by ( Carolina Pulice | ) www.reuters.com time to read: +2 min

MEXICO CITY, July 27 (Reuters) - Walmart's Mexico and Central America unit on Thursday posted a 5% year-on-year rise in its second-quarter net profit, boosted by slightly higher sales especially in June, though earnings were slightly behind forecasts. Walmart de Mexico (WALMEX.MX), the largest retailer in Mexico, posted a net profit of 11.44 billion pesos ($668 million). The company posted a profit of 0.66 pesos a share, just below the Refinitiv estimate of 0.69 pesos. Same-store sales increased 8.5% in Mexico and 9.5% in Central America, and the firm expanded its physical footprint with 22 new stores in Mexico. Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter rose 8.5% to 21.9 billion pesos.

Persons: Paulo Garcia, Guilherme Loureiro, Monex, Loureiro, Carolina Pulice, Noe Torres, Kylie Madry, Lincoln, Christopher Cushing Organizations: MEXICO CITY, Central America, Walmart, America, Thomson Locations: MEXICO, Mexico, Central, Central America

☆ Mexico's Telmex reaches pay rise agreement with union, ministry says
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, June 5 (Reuters) - Mexican telecom Telmex, a subsidiary of America Movil (AMXB.MX), has reached a deal with a workers' union that proposes a 5.6% pay rise, the country's labor ministry said on Monday, after extended negotiations. Some 30,000 current and retired workers will now vote on the deal, it added. The company and union also agreed on other commitments such as increasing market share, sales, customer retention, investments, benefits for workers' children, share-exchange and voluntary permanence programs among others, it added. The labor ministry had been mediating between the company and the telephone workers' union. ($1 = 17.4537 Mexican pesos)Reporting by Carolina Pulice; Editing by Sarah MorlandOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Slim's, Carolina Pulice, Sarah Morland Organizations: MEXICO CITY, Thomson Locations: MEXICO, Mexican, America

☆ These rich and famous people got burned by investing hundreds of millions in Elizabeth Holmes' Theranos
▼ + stars: | 2023-06-04 | by ( Ryan Hogg | Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Here are some who got burned by Theranos, from the Walton family to Rupert Murdoch. Rupert Murdoch invested $125 million in Theranos. Julio Cortez/APThe DeVos familyThe DeVos family, who are heirs to the Amway empire and includes former US Secretary of Education Betsy DeVos, poured $100 million into Theranos. Joshua Roberts/ReutersThe Cox familyTheranos also got $100 million from the Atlanta-based billionaire Cox family, which owns the media and automotive company Cox Enterprises. The Cox family was the eight-wealthiest in the US as of 2020, with a net worth of $34.5 billion at the time, according to Forbes.

Persons: Elizabeth Holmes, Theranos, Walton, Rupert Murdoch, Holmes, Ramesh, Sunny, Balwani, Forbes —, Murdoch, Julio Cortez, Betsy DeVos, they're, Joshua Roberts, Cox, Carlos Slim Carlos Slim, América, Andreas Dracopoulos, Stavros Niarchos, Robert Kraft, It's, Kraft, Tom Brady, Matt Slocum, Alan Eisenman Alan Eisenman, Eisenman Organizations: Morning, Wall Street, Walmart, Forbes, Rupert Murdoch Media, Street, Amway, Cox Enterprises, Stavros Niarchos Foundation, Robert Kraft New England Patriots, Bloomberg, New England Patriots, CBS Locations: Theranos, Atlanta, Latin America, Mexico, FTX

☆ Goldman Sachs likes this Mexican telecom stock to play the country’s red-hot market
▼ + stars: | 2023-06-03 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The Mexican stock market is in rare form this year. The S & P/BM IPC index, the country's stock market benchmark, is up more than 9% in 2023. Given this backdrop, Goldman Sachs highlighted telecom giant Grupo Televisa as a stock that can outperform going forward. The stock has lagged the broader Mexican market, with U.S.-listed shares rising just 7% year to date. The company's U.S.-listed shares are up about 20% in 2023.

Persons: Goldman Sachs, Goldman, Vitor Tomita, Tomita, — CNBC's Michael Bloom Organizations: U.S, The, Federal Reserve, Grupo Televisa, Televisa, Univision Locations: Mexico, The U.S, U.S, American, financials, 2H22

☆ Mexico's America Movil quarterly profit dips as peso appreciates
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +1 min

The company, controlled by the family of Mexican tycoon Carlos Slim, said currency gains dropped about 40% to 13.7 billion pesos from 22.5 billion pesos in the year-ago period. From January through March, the Mexican peso appreciated against several other currencies, the company said in a statement. Revenue rose about 2% to nearly 209 billion pesos, above a Refinitiv forecast of 191.84 billion pesos. Earnings before interest, taxes, depreciation and amortization (EBITDA), or core earnings, totaled 82.7 billion pesos in the three-month period, up 3.2% from a year ago. As of the end of March, net debt totaled 365.1 billion pesos excluding leases, down 16.4 billion pesos from the end of 2022.

☆ Mexico's America Movil projects $8 bln to $8.2 bln investment in 2023
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Feb 15 (Reuters) - Mexican telecommunications firm America Movil expects to invest between $8 billion and $8.2 billion in 2023, which includes radio-frequency concessions, fiber-optic network expansions and digitalization, a company executive said Wednesday. The estimate is in line with the company's plan to invest $24 billion over three years, Chief Financial Officer Carlos Garcia said in a call with analysts. The firm, controlled by the family of billionaire Carlos Slim, saw its fourth-quarter profit slide by 90%, it reported Tuesday. America Movil expects to enact price hikes in 2023, though it is still evaluating which countries will see the increases, executives said Wednesday on the call. Reporting by Kylie Madry, Aida Pelaez-Fernandez and Cassandra Garrison Editing by Caitlin WebberOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's Oi exits bankruptcy protection after more than 6 years; shares jump
▼ + stars: | 2022-12-15 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, Dec 15 (Reuters) - Shares in Brazilian telecom firm Oi SA (OIBR4.SA) soared on Thursday after it revealed it was exiting bankruptcy protection, marking the closure of a restructuring process that lasted more than six years. Oi filed in June 2016 for Brazil's then-biggest ever bankruptcy protection after running out of time to reorganize operations and restructure a multibillion-dollar debt amid a harsh recession in Latin America's largest economy. After the announcement, common shares in Oi jumped as much as 53% to 0.26 real in morning trading. Analysts at Genial Investimentos said the move was positive for the firm, even though they still thought Oi was financially weakened. Guide Investimentos echoed the concern and noted that despite being postponed several times, the end of the bankruptcy protection was already expected.

☆ Mexico's America Movil to propose combination of share series
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: 1 min

MEXICO CITY, Nov 22 (Reuters) - Mexican telecommunications giant America Movil will propose reclassifying three of its share series to shareholders, the company said Tuesday. The "AA," "A" and "L" share series would become part of the company's "B" series, it said in a filing. The change would require amending the company's bylaws and will be subject to regulatory authorization, America Movil said. Reporting by Kylie Madry, Editing by Isabel WoodfordOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Mexican companies could resort to more spinoffs to enhance market value
▼ + stars: | 2022-11-22 | by ( Valentine Hilaire | ) www.reuters.com time to read: +4 min

Mexican telecommunications giant America Movil (AMXL.MX) kicked off the trend late last year when its shareholders approved the spinoff of its cell tower business. Some analysts said both Alfa and Televisa may consider further spinoffs as they look to boost their depressed valuations. Other companies, like Coke bottler and retailer Femsa (FEMSAUBD.MX), whose shares are down 3.3% year-to-date, after gaining 6% in 2021, may follow suit. Alfa lost 2.69% the day after its shareholders approved the Axtel spinoff, while Televisa's shares advanced 0.86% the day after it revealed plans for a similar move. Televisa, meanwhile, could follow its sports spinoff with either its editorial or magazine businesses, two analysts said.

☆ Mexican cable provider Megacable to invest $2 bln over 5 years
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Oct 20 (Reuters) - Mexican pay TV, internet and telephone provider Megacable (MEGACPO.MX) will invest $2 billion over the next five years to expand its network and grow to new cities, the company said in a release on Thursday. With the investment, Megacable expects to double its income and core earnings, or EBITDA, between 2025 and 2026, it said. Megacable has expanded to 11 cities so far this year and aims to hit 15 more by the end of the year, the company said, and hopes to double the number of residences it serves in the next five years. Megacable said the investment will help it to "continue positioning itself" as one of the largest companies in Mexico and Latin America, though it lags behind competitors America Movil (AMXL.MX) and broadcaster Televisa (TLEVISACPO.MX). Register now for FREE unlimited access to Reuters.com RegisterReporting by Kylie Madry; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico's America Movil quarterly profit rises 13.7%, fueled by new subscribers
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, Oct 18 (Reuters) - Mexican telecommunications giant America Movil (AMXL.MX) reported on Tuesday reported a 13.7% jump in third-quarter net profit, helped by more wireless subscribers across all the regions where it operates compared to a year earlier. America Movil's revenues edged up 1.8% to 214.47 billion pesos, from 210.77 billion pesos during the year-ago period. Register now for FREE unlimited access to Reuters.com RegisterEarnings before interest, taxes, depreciation and amortization (EBITDA), or core earnings, reached 83.2 billion pesos, a 2.3% increase from a year earlier. America Movil said it added 2.9 million wireless subscribers in the quarter, including 1.9 million postpaid customers largely from Brazil. ($1 = 20.1271 pesos by end-September)Register now for FREE unlimited access to Reuters.com RegisterReporting by Kylie Madry and Noe TorresOur Standards: The Thomson Reuters Trust Principles.

MEXICO CITY, Oct 18 (Reuters) - Mexican broadcaster Grupo Televisa's (TLEVISACPO.MX) satellite television unit SKY has launched new mobile phone services using AT&T's network, the company said Tuesday, in a bid to expand product offerings to its clients. Customers who sign up for the mobile services, rolled out Monday and only available to SKY clients, will get an upgrade in their SKY content offerings, said Chief Executive Luis Malvido. Register now for FREE unlimited access to Reuters.com RegisterAT&T deployed 5G services in Mexico City in December 2021, and has since expanded to some other cities across the country. It competes with major player America Movil (AMXL.MX), which is rolling out its own 5G network in Mexico this year, poised to become the largest 5G commercial network in Latin America, according to regulators. The new mobile services, first announced in July as part of a revamp of SKY, are geared to attract families seeking to open multiple lines per household.

MEXICO CITY, Sept 27 (Reuters) - Telmex union representatives on Tuesday rejected the latest contract offer by the Mexican telecommunications firm controlled by tycoon Carlos Slim's family, a union spokesperson said. The Mexican Telephone Workers Union, known as STRM for its Spanish acronym, will meet on Wednesday to decide the next steps, the spokesperson said. The offer, reviewed by Reuters, included bonuses for retiring workers in a bid to end a long-running dispute over benefits. It followed weeks of negotiations between the company and union after a two-day strike in July. Register now for FREE unlimited access to Reuters.com RegisterA spokesman for Telmex did not immediately respond to a request for comment.

☆ TIM, Vivo, Claro seek $606 mln Brazil Oi deal haircut
▼ + stars: | 2022-09-19 | by ( David French | ) www.reuters.com time to read: +1 min

A logo of the mobile phone network company Claro is seen in Bogota, Colombia December 12, 2019. REUTERS/Luisa GonzalezSAO PAULO, Sept 19 (Reuters) - TIM SA (TIMS3.SA), Telefonica Brasil (VIVT3.SA) and Claro have asked that the price of their deal to buy rival telecom Oi SA's (OIBR4.SA) mobile operations in Brazil be lowered by 3.2 billion reais ($605.05 million), securities filings showed on Monday. Telecom Italia's TIM (TLIT.MI), America Movil's Claro (AMXL.MX) and Telefonica's Vivo had agreed to acquire Oi's mobile operations in an auction in late 2020 with a joint bid of about 16 billion reais. However, post-deal analysis showed the need for an adjusted closing price, TIM said in a securities filing, citing divergences in working capital, capital expenditure and net adds data that were seen in documents available only after closing. ($1 = 5.2888 reais)Register now for FREE unlimited access to Reuters.com RegisterReporting by Gabriel Araujo; Editing by Christian PlumbOur Standards: The Thomson Reuters Trust Principles.

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