AT&T (T) to Tender $1.37B of Telmex in Proposed Acquisition by América Móvil (AMX); Sees 1c to 3c Gain on EPS
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AT&T (NYSE: T) announces it would tender all of its shares of Telefonos de Mexico, S.A.B. de C.V. (Telmex) (NYSE: TMX), following an announcement by the Board of Directors of América Móvil, S.A. de C.V. (América Móvil) (NYSE: AMX) approving a tender offer for the remaining outstanding shares of Telmex at $10.50 Mexican pesos per share (payable in cash), that are not already owned by América Móvil.
This offer would value AT&T's holdings at approximately $1.37 billion (using August 1, 2011 exchange rate). Assuming the tender offer is launched and it is completed, AT&T expects to report a gain of one to three cents per share in respect of the sale of AT&T’s Telmex shares.
This offer would value AT&T's holdings at approximately $1.37 billion (using August 1, 2011 exchange rate). Assuming the tender offer is launched and it is completed, AT&T expects to report a gain of one to three cents per share in respect of the sale of AT&T’s Telmex shares.
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