Mexican telecom giant America Movil plans to spend 14%-15% of revenues on capital expenditure for 2026 and beyond. The company aims to remain competitive in Chile after losing out on a deal to acquire Telefonica’s unit. Funds originally earmarked for the deal will now be used to reduce debt and explore other acquisition opportunities in the region. CEO Daniel Hajj expressed interest in potential consolidation in the market, hinting at discussions with small fiber providers in Latin America and Brazilian internet provider Desktop. America Movil’s recent financial report showed a significant increase in net profit, attributed to a boost in foreign exchange. Analysts at JPMorgan praised the company’s performance in Mexico and Colombia, although progress in Brazil was slightly slower. Shares of America Movil rose slightly in morning trading following the news.

Read more at Yahoo Finance: America Movil prepares spending target after Telefonica Chile sells to rivals