America Movil, S.A. de C.V. (AMX) is Latin America's largest wireless holding company, with approximately 143.4 million subscribers, and it is one of the top ten mobile operators in the world. AMX was established in September 2000 as a spin-off from Tel fonos de M xico (Telmex), the dominant provider of local and long-distance telephone services in Mexico. Since inception, AMX has expanded rapidly, using acquisitions to become a leading Latin American regional wireless player. The company's largest subsidiary, Telcel, is the dominant wireless service provider in Mexico. Telcel is the major business source for its parent AMX, contributing 47% of the company's total sales in 2006. Telecom Americas, another AMX subsidiary that ranks second among wireless carriers in Brazil, accounted for approximately 13% of sales. Through several other subsidiaries, AMX is also the leading wireless provider in Colombia, Ecuador and Guatemala. Over the past year, the company acquired wireless operators in El Salvador, Argentina, Jamaica and Nicaragua. AMX's combined network covers about two-thirds of the Latin American population, or over 330 million people. In the United States, AMX owns Tracfone, a fast growing prepaid wireless service provider based in Miami. AMX generates revenue primarily from subscribers in the form of usage charges (more than half of total revenue), monthly rental (approximately 15%), and long distance (9%). The remaining revenue is derived from sales of handsets and accessories, as well as other miscellaneous services.
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