America Movil’s capital expenditure will be $6 bln, down from $8.5 bln foreseen, Telecom News, ET Telecom

MEXICO CITY: America Movil chief executive officer, Daniel Hajj, said on Wednesday that the telecoms giant will reduce capital expenditure to $6 billion in 2020, down from the $8.5 billion foreseen at the start of the year.

“We are going to reduce the capex from our original number this year, because execution in the lockdown was very difficult” Hajj said in a call following the third-quarter earnings on Tuesday.

Hajj added that some non-essential projects were also canceled or delayed.