Carlos Slim, the billionaire Mexican owner of América Móvil, is reportedly investing more cash in AST SpaceMobile. Slim is already an investor in AST and his daughter sits on AST’s board of directors.

The total amount involved is said to be an overall $22 billion (€18.6bn) spread over a period of time although some of this cash is going to various businesses in China and Europe. The report has not been confirmed by AST.

With this investment, if confirmed, AST will gain even greater strength and expansion in its country by establishing commercial relations with América Móvil, which in turn will consolidate and improve its coverage in Latin America.

América Móvil cancelled its commercial contract with Starlink in March which was intended to expand satellite internet services in Latin America. The cancellation came about when Elon Musk suggested that Carlos Slim had ties with organised crime in Mexico.

The switch from Starlink to AST has significant implications in some 25 Latino countries where América Móvil has a presence. And potentially, a subscriber base of more than 300 million América Móvil’s customers.

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Categories: Articles, Business, Funding, Satellite

Tags: América Móvil, AST SpaceMobile, carlos slim