MEXICO CITY (Reuters) -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% 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.
(Reporting by Aida Pelaez-Fernandez and Noe Torres; Editing by Kylie Madry and David Alire Garcia)
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