Statement from América Móvil.
“América Móvil informs the investing public”
Mexico City, May 7, 2021. América Móvil, SAB de CV (“AMX”) [BMV: AMX] [NYSE: AMX | AMOV] informs that a Tribunal of the International Center for Settlement of Investment Disputes (“ICSID”) rendered its award on this date in the arbitration proceeding initiated in August 2016 against the Republic of Colombia (“Colombia”) under the Free Trade Agreement between the United Mexican States and the Republic of Colombia (“FTA”).
The ICSID Tribunal held that certain measures adopted by Colombia in relation to the concessions that its subsidiary Comunicación Celular, SA (“COMCEL”) terminated in 2013 did not represent an expropriation of AMX’s investments in COMCEL in violation of the FTA and ordered AMX to pay the approximate sum of US $ 2.2 million, for the costs of the arbitration proceeding.
AMX is currently analyzing the legal instances at its disposal against said award, including the request for its possible annulment before the federal court of the District of Columbia (seat of arbitration).
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