Telecom giant AT&T Inc. (T) said in a regulatory filing that it sold 540 million shares, representing 7 percent of its stake, in Latin American telecommunications firm America Movil (AMX,AMOV), on June 4.
The sale will bring AT&T's holding in America Movil, controlled by billionaire Carlos Slim, to its previous level of 9 percent.
The offloading is said to be part of AT&T's strategy of rebalancing asset levels from time to time, to find funds for general corporate purposes.
T closed down 1.2 percent on Wednesday at $35.26. AMX fell 0.9 percent to $19.49 while AMOV was down 1.1 percent at $19.43.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.