AMERICA MOVIL FORMS PARTNERSHIP WITH ARBROS COMMUNICATIONS
“By joining forces ARBROS will broaden its base and accelerate its expansion,” ARBROS CEO Jonathan Flicker and América Móvil CFO Carlos García Moreno stated.
Mexico City, Mexico. February 26, 2001— América Móvil, S.A. de C. V. (“América Móvil”) [BMV: AMX; NYSE: AMX; NASDAQ: AMOV], Latin America’s largest cellular communications provider, and ARBROSSM Communications, Inc., an integrated communications provider, today announced they have entered into an agreement to combine ARBROS and Comm South Companies, Inc., a Dallas-based provider of residential telephone services wholly-owned by América Móvil. As part of the transaction, América Móvil will acquire an interest in ARBROS through a combination of equity and warrants exercisable at its discretion.
“Comm South is a perfect fit with ARBROS,” said Jonathan Flicker, ARBROS chief executive officer. “Our complementary strengths are expected to create a stronger company better able to deliver for our customers. The addition of Comm South’s experience will broaden our base and accelerate our expansion.”
“We are sure ARBROS and Comm South will create synergies that will allow the company to increase its scale and improve its performance,” said Carlos García Moreno, América Móvil chief financial officer.
Terms of the transaction were not disclosed. The closing of the acquisition is subject to ARBROS obtaining state regulatory approvals, which are expected to be complete within a few months.
About América Móvil and Comm South
América Móvil, S.A. de C.V. is Latin America’s largest cellular communications provider, with close to 13 million cellular subscribers and telecommunication investments in several countries throughout the America’s region. América Móvil, S.A. de C.V. has been created through the spin-off of the cellular operations and most international investments of Teléfonos de México, S.A. de C.V. (Telmex), the leading wireless telecommunications company in Mexico,
Comm South Companies is one of the largest, independent, telecommunications companies in the U.S. Headquartered in Dallas, Texas, Comm South is acknowledged as a pioneer in the industry and is the premier reseller of residential dial tone.
About ARBROS
ARBROSSM Communications, Inc., founded in March 1999, is an integrated communications provider serving small and medium businesses in the northeastern United States. ARBROS seeks to provide exceptional customer service to businesses traditionally underserved by incumbent and competitive local exchange carriers. ARBROS is headquartered in Silver Spring, Md., with facilities in Washington, D.C., Landover, Md., northern Virginia, Philadelphia, Baltimore, Newark, N.J., New York, Pittsburgh and Boston. ARBROS can be found on the Internet at .
América Móvil Investor Contact:
Carlos Garcia Moreno
522-581-4434
ARBROS Press Contact:
Denise Thompson
Ruder Finn
202-974-5012