AMX Closes in on Telmex Delisting

America Movil is seeking to complete the process to delist its Telmex unit by offering to buy the remaining 2.79% percent of the fixed-line company’s shares still outstanding, it says. Last year the Carlos Slim-controlled wireless operator bought a large chunk of the outstanding stock last year, and held 97.2% of Telmex as of April. In the latest offer, AMX is offering 10.225 pesos ($0.78) per share, equivalent to last year’s offer after accounting for dividends. Telmex shares, which trade infrequently, closed at MXP10.01 Friday. AMX will ask regulators for permission to do the tender “in the coming days.”