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.

Other posts by :

1. Crossroads backs AST SpaceMobile
2. FCC examines SpaceX’s 15,000 sat-constellation plan
3. EchoStar: “Severe uncertainty” led to spectrum sales
4. Netflix gets downgrade on Warner Bros move
5. UK trims Orbex investment
6. Euro-bank sets up €500m space fund
7. Revenue jump forecast for Eutelsat
8. Moody’s upgrades Eutelsat’s debt rating
9. Rivada Space Networks wins spectrum dispute

Categories: Articles, Business, Funding, Satellite

Tags: América Móvil, AST SpaceMobile, carlos slim