América Movil to invest US$6 billion in next three years

Mexican telecoms giant América Movil, which is controlled by billionaire Carlos Slim, will invest US$6 billion over the next three years, Chief Executive Officer Daniel Hajj said on Thursday.

América Movil was still looking at how to sell some assets but was in no rush, said Hajj at an event in Mexico City. América Movil is set to report its second-quarter results later on Thursday.

The company said in July last year that it would sell assets in Mexico to cut its market share and avoid tough new measures imposed under a sweeping telecom reform aimed at curbing America Movil's dominance.

The original plan was to sell a cross-section of the company, but América Movil said in April it was reviewing its plan since U.S. carrier AT&T Inc's purchase of Mexico's No. 3 and No. 4 wireless operators, which could increase competition.

At the time, Hajj said the company no longer wanted to sell infrastructure, a share of its frequencies, or spectrum.

At the event on Thursday, Hajj also announced that roaming charges from Mexico to the United States would be eliminated from all post-pay plans. Customers would, however, have to pay 50 pesos (US$3.16) extra per month.