América Móvil, S.A.B. de C.V. (AMX)

UPDATE 1-America Movil says 5G in focus as $7 bln capex plan on track

Mexican telecommunications giant America Movil said it is investing in 5G across its markets as it remains on track to implement its $7.1 billion capital expenditure plan set for this year. The company had in February warned of reduced spending following years of significant output on buying spectrum and refreshing its network infrastructure. This comes a day after America Movil showed first quarter net profit down 55% year on year, weighed by a stronger peso and lack of extraordinary income from selling cell phone towers, as it had done in the same quarter a year earlier.