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Slim's telecom flagship shudders into biggest loss in 16 years

Wednesday, February 14, 2018

America Movil, the crown jewel of Mexican billionaire Carlos Slim’s empire, reported its largest loss in 16 years in the fourth quarter, hampered by the peso’s depreciation against the dollar and euro.

The telecommunications company, which has operations throughout the Americas, posted a net loss of $575 million for the fourth quarter to December. Analysts had forecast a net profit of $227 million.

Source: Reuters