Carlos Slim Buys Out AT&T's $6 Billion Stake in America Movil

Carlos Slim Buys Out AT&T's $6 Billion Stake in America Movil

Mexican tycoon Carlos Slim has bought out US telephone operator AT&T's $6 billion stake in telecommunications firm America Movil, the company announced Friday.

The acquisition of AT&T's shares in the company represent 8.27 percent of America Movil's capital stock, according to a company statement. "Upon consummation of the transaction authorized today by the board of directors, AT&T will no longer be a shareholder of America Movil," it added.

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