América Móvil sells subsidiary in United States to Verizon

The U.S. company Verizon Communications acquired Tracfone Wireless, subsidiary of América Móvil in the United States for 6.250 million dollars in cash plus common shares of Verizon. The amount is subject to adjustments in function of certain performance goals during 24 months and a commercial agreement, which would be a return for the seller of up to 650 million additional dollars.

In the transaction, which was announced September 14, Debevoise & Plimpton - United States (New York and Washington, D.C.), in mergers and acquisitions, finance, benefits, taxes, intellectual property, capital markets, real estate and antitrust; Jones Day (Houston and Washington, D.C.), in antitrust, and Von Wobeser y Sierra (Mexico City) represented the buyer. Credit Suisse provided financial advice.