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Carlos Slim, America Movil's (AMX) largest shareholder, became the world's richest man in part from his investments in wireless phone service. His empire spans 18 countries and has 200 million subscribers.Let's look at America Movil's spectacular growth. The company's markets are primarily in Latin America. American Movil controls 74% of wireless service in Mexico under its Telcel brand, which has 60 million subscribers. Brazil is second with 45 million subscribers. It also is the largest provider in the Caribbean with four million users.
The company has staked out a market in prepaid service with its TracFone subsidiary. TracFone is a no-frills plan that gives customers wireless service at low rates.
Now the company is looking ahead. It forecasts 400 million users will have their own Internet connection, up from 60 million, and plans to invest $32 billion in network capacity over the next four years, according to the research group, Wireless Federation.
For investors looking to Latin America, America Movil deserves a look see.
America Movil is trading at $58.92, up 32 cents.
Disclosure: Madon does not own America Movil stock.
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