América Movil To Tap Latin American Markets

Mexican wireless communications company América Movil, the region’s largest cellular phone operator, says it is planning to issue debt in several local Latin American markets this year. The money raised will be used to fund its expansion plans to raise total users by 12%, up to 122 million, by the end of year. The company will issue securities in Peru and Chile as part of the first stage of its plan. This week, the company began an aggressive marketing campaign aimed at grabbing a larger share of the Chilean market. On Thursday it is due to relaunch the newly rebranded Claro (formerly Smartcom), the number three domestic operator which it bought last year, and its new GSM network.