Carlos Slim’s América Móvil paid 1.3 billion USD in TracFone deal

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Mexican telecommunications firm America Movil has paid 28 billion pesos ($1.35 billion) in taxes in Mexico for recently selling a business unit in the United States, Mexican President Andres Manuel Lopez Obrador said on Monday.

America Movil last month closed the sale of its TracFone wireless subsidiary to Verizon Communications Inc in a deal worth more than $6 billion in cash and Verizon stock.

An America Movil spokesperson said the 28 billion peso figure reported by Lopez Obrador was correct and referred solely to income tax paid on the TracFone deal.

Lopez Obrador announced the payment, which he said landed in Mexico’s treasury on Dec. 16, in a Tweet after meeting with billionaire Carlos Slim, whose family controls America Movil.

The president posted a photo of the two men smiling together over breakfast and called Slim a “friend and good businessman.”

Lopez Obrador, who earlier this month mentioned the sum paid by America Movil without specifically naming the company, has regularly urged large corporations to pay their taxes.

His administration has exerted pressure on companies to pay back taxes, including using the threat of criminal charges.

Last week Lopez Obrador said Mexico expected to receive 15 billion pesos ($724 million) in taxes early next year from the merger of broadcasters Televisa and Univision.

Source: El Financiero

Mexico Daily Post