America Movil aims to sell assets as quickly as possible

MEXICO CITY (Reuters) - Mexican telecoms company America Movil plans to divest assets as quickly as possible to escape tougher regulation, and it hopes to sell to a single buyer, spokesman Arturo Elias said on Wednesday.

The company controlled by billionaire Carlos Slim announced on Tuesday that it was ready to sell assets to cut its market share in Mexican telecoms below 50 percent and avoid regulations that apply only to dominant players.

Those new rules are part of a telecommunications sector overhaul approved by Congress in an attempt to curb the power of America Movil and broadcaster Televisa.

Shares of America Movil, which has about 70 percent of Mexico's mobile business and 80 percent of its fixed line market, were up 6.53 percent at 14.35 pesos. The company has a market value of almost $72 billion.

America Movil will have to sell 15 percent to 17 percent of its share in telephony to weigh in below the 50 percent threshold and still have margin to grow, Elias said.

Speculation has already begun to swirl over who might buy the assets. But Elias offered little insight.

"It would have to be someone who comes to Mexico to really invest in telecommunications, to create a true, tough competitor," he said, but added that the winner would not necessarily be foreign.

Elias, who is Slim's son-in-law, said the company expected to offer voice, data and video services to clients in Mexico. At present, it is barred from offering pay television in Mexico, but Elias said it planned to do so as quickly as possible.

Investors and Mexican Communications Minister Gerardo Ruiz Esparza welcomed news of the divestiture.

Early on Wednesday, Congress gave final approval to secondary laws laying out the fine print of the telecoms sector overhaul. The legislation will now head to President Enrique Pena Nieto's desk to be signed into law.

(Reporting by Gabriel Stargardter and Alexandra Alper; Editing by Lisa Von Ahn)