Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, October 21, 2014

Verizon CFO says not interested in America Movil assets -WSJ, (NYSE: VZ)

Verizon Communications has no interest in acquiring assets being sold by Latin America's biggest telecommunications company, America Movil , Verizon's chief financial officer told the Wall Street Journal on Tuesday. In September, Verizon rival, AT&T said it would not rule out a deal in Mexico.AT&T is one of several possible buyers America Movil has contacted as it tries to sell a chunk of assets, according to a source familiar with the situation.The planned sale, announced in July, came in response to a sector overhaul aimed at curbing Slim's dominance in Mexican telecoms, where America Movil has about 70 percent of mobile subscribers and more than 60 percent of landlines.

Verizon Communications Inc. (Verizon) is a holding company. Shares of VZ traded higher by 0.21% or $0.1/share to $48.58. In the past year, the shares have traded as low as $45.45 and as high as $53.66. On average, 14117700 shares of VZ exchange hands on a given day and today's volume is recorded at 14070951.