Attention to those of you who own America Movil SAB (AMX): AMX has announced a corporate restructuring, consisting of a spinoff of its mobile sites component into a new company, Telesites SAB de CV (SITESL:MM). As part of this spinoff, U.S. holders of AMX stock will receive cash compensation for the new shares of Telesites; we are currently in the process of determining what this compensation will amount to. Once we have determined this, we will provide further instruction on how to proceed with the position.
At this point, no action is necessary for you to take on AMX. Continue to trade the position by the tenets of the Method as usual.
If you have any questions regarding the spin-off, please do not hesitate to contact us at 1-888-6SNIDER or at support@snideradvisors.com.
