Bloomberg News

Mexico Stocks: America Movil, Compartamos SAB, Grupo Bimbo Gain

October 24, 2011

Oct. 24 (Bloomberg) -- The following companies are having unusual price changes in Mexico trading. Stock symbols are in parentheses and prices are as of 9:18 a.m. Mexico City time.

The IPC index gained 1.2 percent to 35,440.26.

America Movil SAB (AMXL MM), the wireless carrier controlled by Carlos Slim, rose 0.3 percent to 16.36 pesos. The company sold $2.2 billion of bonds denominated in euros and British pounds, according to a person close to the sale. The 1 billion euros ($1.4 billion) of 8-year bonds will yield 180 basis points above the mid-swap rate, and the 500 million pounds of 15-year bonds will yield 217 basis points above the benchmark British Government bond, or gilt. Separately, Slim said at a conference in Geneva today that the percentage of population with a mobile phone in developing countries will likely rise to 80 percent in the next three to four years.

Compartamos SAB (COMPARC* MM), the holding company that controls microlender Banco Compartamos, rose 1.1 percent to 20.10 pesos. The company was raised to “hold” from “underperform” by Banco Santander, with a target price of 22 pesos.

Grupo Bimbo SAB (BIMBOA MM), the world’s largest breadmaker, gained 2.1 percent to 28 pesos. According to Brazilian newspaper O Estado de S. Paulo, the company is interested in buying Brazilian cookie maker Mabel. The newspaper cited people close to the Brazilian company that it didn’t name, and said Bimbo declined to comment.

Organizacion Soriana SAB de CV (SORIANAB MM), Mexico’s second-largest grocery store chain, rose 1 percent to 28.25 pesos. The company was raised to “hold” from “sell” at Deutsche Bank by equity analyst Reinaldo Santana. The 12-month target price is 30 pesos per share.

--Editor: Glenn J. Kalinoski

To contact the reporter on this story: Katia Porzecanski in New York at

To contact the editor responsible for this story: David Papadopoulos at

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