America Movil readies to launch 5G network in Mexico

America Movil readies to launch 5G network in Mexico

Mexican telecommunications company America Movil announced that it was "ready" to launch a 5G market in Mexico.

“We’re doing everything to be ready for 5G. We still don’t know exactly when we’re going to launch 5G, but we’re ready to launch it,” CEO Daniel Hajj said.

He told investors on the company’s Q3 earnings call that the planned launches depend on the assignment of spectrum for the new technology in the different markets where the group operates.

"We have two competitors, we do everything possible to be ready for 5G, so we still do not know exactly when we are going to launch 5G, but we are ready to also launch 5G in Mexico," he stated.

A report in BN Americas cited the executive as saying Mexico as an example of a market where the company has made the necessary preparations to offer 5G.

Meanwhile, according to a Reuters report, it was also mentioned that it expects to complete the sale of Tracfone, a US prepaid mobile phone subsidiary before the end of the year.

In September of last year, América Móvil, the head of magnate Carlos Slim's business empire, reached an agreement with Verizon for the sale of his business for 6.25 billion U.S. dollars.

"We believe we can close the Tracfone transaction before the end of the year," said Daniel Hajj said.
America Movil, controlled by the family of Mexican billionaire Carlos Slim, said a global chip shortage that hit automakers and tech companies had contributed to a lack of mid-to lower-price point mobile handsets for Tracfone.

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