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Which Credit Card Rewards Does the IRS Care About?"Based in Mexico, América Móvil (NYSE: AMX) is the largest wireless service provider in Latin America," notes wireless sector expert Nikhil Hutheesing.
The editor of The Forbes Wireless Stock Watch notes that the company's largest stakeholder is billionaire Carlos Slim who holds a 30% stake. Here's the advisors's bullish assessment for the company.
"AMX, which was spun out of Mexico's Telmex in 2000, operates out of Mexico City, but only about 30% of its business is actually in Mexico. It has has been growing rapidly mostly by acquiring troubled Latin American operators that took on too much debt during the telecom bubble.
"Móvil then consolidates operations, changes management as necessary, and makes operations more efficient and profitable.
"With 3G networks in place, América Móvil will be able to boost revenue and profit by selling more data services. It's already offering 3G service in Mexico and plans to spend another $4 billion to upgrade its wireless networks to 3G in five or so more countries this year.
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