América Móvil and Telefónica to explore buying WOM S.A. assets

AMX and TEF Sign Non Binding Agreement

MÉXICO CITY, México and MADRID, Spain — América Móvil, S.A.B. de C.V. (“AMX”) [BMV: AMX] [NYSE: AMX], through one of its subsidiaries, and Telefónica S.A. (“TEF”) signed a non-binding agreement today to jointly explore their potential participation in the sale process of the assets of WOM S.A. and its affiliates in the jointly-administered Chapter 11 bankruptcy proceedings pending in the United States Bankruptcy Court for the District of Delaware. The parties may decide at any time not to submit an offer and, if they do so, any offer and potential transaction will be subject to the bidding procedures and the regulatory standards and authorizations required under the bankruptcy procedure of WOM S.A. and under the applicable sectoral and competition rules, including the prior authorization of the National Economic Prosecutor’s Office of the Republic of Chile (Fiscalía Nacional Económica de Chile).

The interest of both companies in jointly exploring their potential participation in the sale process of the assets of WOM S.A. and its affiliates in Chile is based on the potential benefits that the transaction could generate for its clients and Chilean consumers in general, given that it would strengthen the telecommunications sector sustainability, increasing the ability to continue investing and competing in high-speed networks and coverage, which is key to the country’s digitalization