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America Movil Cutting Network Capex by 20 Percent

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Latin America's America Movil plans to cut its network investment by at least 20 percent during 2016.

The company's CEO, Daniel Hajj told investors during an earnings call that the reduction will "depend on a lot of things that we don't have clear today...but as I said, at least we can reduce it 20 to 25 percent,"

America Movil will still be spending around USD7.5 billion to USD8 billion during 2016, even after the reduction.

The company is coming under pressure following reforms in its core Mexican market which finally saw competition introduced into the near monopoly market, and falling prices.

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Tags: america movil  Mexico