América Móvil is Mexico’s largest company. Ranked 194 in the Forbes Global 2000, it’s the world’s seventh-largest mobile network provider by equity subscribers. The corporation has 302M cellular subscribers, and 80M fixed revenue-generating users throughout its various countries of operation as of Q3 2021.
The company was founded in 2000 by Carlos Slim, now Mexico’s richest man. It currently operates in most of Latin America and the Caribbean under Claro, in the US under Tracfone Wireless, and in Mexico under Telcel. The various companies offer cellular service, Internet, satellite, and cable television.
Two months ago, the FCC approved the sale of América Móvil’s US subsidiary, Tracfone, to Verizon. Many of Tracfone’s users already use Verizon’s network; Tracfone uses other cellphone carriers’ physical networks for a fee.
In Mexico, Telcel has continued on its upward trajectory of market share. However, AT&T turned up the competitive heat in 2015 by acquiring Iusacell and rebranding it as AT&T Mexico. With a network available in 90% of Mexico, AT&T has captured 13% of the market share.