- Mexican telecommunications giant America Movil (AMXL.MX) kicked off the trend late last year when its shareholders approved the spinoff of its cell tower business. Conglomerate Alfa (ALFAA.MX) did the same, with its investors approving a plan in July to distribute its stake in subsidiary Axtel (AXTELCPO.MX) to existing Alfa shareholders.
- Then, late last month, broadcaster Televisa (TLEVISACPO.MX), whose shares have plunged more than 40% so far this year, pitched a plan to spin off its sports and gaming operations, arguing that the move would cut corporate expenses.Some analysts said both Alfa and Televisa may consider further spinoffs as they look to boost their depressed valuations. Other companies, like Coke bottler and retailer Femsa (FEMSAUBD.MX), whose shares are down 3.3% year-to-date, after gaining 6% in 2021, may follow suit. READ MORE
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