MEXICO CITY :Mexican telecommunications giant America Movil is exploring an agreement with tycoon Elon Musk’s SpaceX space technology company to expand collaboration between the two companies, executives said on Wednesday.
During a press conference to present earnings results for the third quarter, America Movil executives explained that the deal would allow SpaceX to connect to its main mobile services network. The tie-up would be on top of a service agreement that the telecommunications firm already has with SpaceX satellite internet unit Starlink.
America Movil shares were up around 2.5 per cent after the earning’s call, extending morning trading gains after the company reported on Tuesday that it had more than tripled its quarterly profit as a weaker peso boosted its earnings abroad along with lower financing costs.
America Movil is also on track to fulfill its capital expenditure forecast for this year of about $7 billion, CFO Carlos Garcia said during the call.
