New Street Research - America Movil S.A.B. de C.V. ADS (AMX) ... New Street: Liberty LA (Buy, TP: $17, +30%) AMX (Neutral, TP: $18.5, +5%) Liberty LA - more deal-making, more value creation Merger in Chile with AMX

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New Street Research

Soomit Datta

New Street: Liberty LA (Buy, TP: $17, +30%) AMX (Neutral, TP: $18.5, +5%) Liberty LA - more deal-making, more value creation Merger in Chile with AMX

Liberty LA has announced a deal with AMX in Chile. We spoke to CFO Chris Noyes and ran through the deal rationale which all seems logical, following on the back of the recent Panama deal also with AMX (less material but also a sensible transaction).

30/09/2021 8 EN

Underlyings

America Movil S.A.B. de C.V. ADS

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US02364W1053 New York Stock Exchange Mexico

Liberty Latin America Ltd

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

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Soomit Datta

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New Street: Liberty LA (Buy, TP: $17, +30%) AMX (Neutral, TP: $18.5, +5%) Liberty LA - more deal-making, more value creation Merger in Chile with AMX

Global EM Telcos & Towers – NSR EM Top picks Feb 25 update. Top-8 becomes Top-10, add LILAC and TIM Brasil

Global EM Telcos & Towers Introducing the NSR Global EM Telco & Towers Compounders

LatAm Telcos – TIM/Vivo to Neutral; Wireless MVNO threats - NuCel / Brazil macro

Nvidia: H20 exports to China banned. Walking on eggs.

Will Another Trump Call for the FCC to Revoke the CBS Licenses Work?

Tariffs & Broadcom: the baseline & what’s next:

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