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America Movil Buys TIM Peru
Mobile telecommunications giant America Movil, owned by Mexican tycoon Carlos Slim, bought Peruvian mobile telecom operator TIM Peru for $505 million. The deal comes on the heels of America Movil´s purchase of Chilean mobile phone operator Smartcom earlier this month. American Movil bought BellSouth´s mobile assets in Latin America last year for $5.85 billion.