América Móvil is exploring an agreement with Elon Musk’s space technology company SpaceX to expand collaboration between both companies, said executives of Carlos Slim’s telecommunications group.
During a call with analysts to discuss corporate results for the third quarter, executives of the Mexican consortium explained that the agreement would allow SpaceX to connect to its main network of mobile services.
The alliance would add to a services alliance that Slim’s company already has with SpaceX’s satellite internet unit, Starlink.
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América Móvil shares rose 2.89% after it reported the day before that it more than tripled its net profit in the third quarter, citing a weaker peso that boosted its overseas revenue and lower financing costs.
América Móvil is also on track to meet its capital spending forecast for this year of around $7 billion, its chief financial officer, Carlos García, said during the call with analysts.
With information from Reuters
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