<SEC-DOCUMENT>0001193125-13-373143.txt : 20131022
<SEC-HEADER>0001193125-13-373143.hdr.sgml : 20131022
<ACCEPTANCE-DATETIME>20130920143329
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-13-373143
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20130920

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICA MOVIL SAB DE CV/
		CENTRAL INDEX KEY:			0001129137
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			O5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		LAGO ZURICH 245
		STREET 2:		COLONIA GRANADA AMPLIACION
		CITY:			MEXICO DF
		STATE:			O5
		ZIP:			11529
		BUSINESS PHONE:		5255-2581-4449

	MAIL ADDRESS:	
		STREET 1:		LAGO ZURICH 245
		STREET 2:		COLONIA GRANADA AMPLIACION
		CITY:			MEXICO DF
		STATE:			O5
		ZIP:			11529

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICA MOVIL SA DE CV/
		DATE OF NAME CHANGE:	20010119

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICA  MOBILE
		DATE OF NAME CHANGE:	20001221

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN MOBILE
		DATE OF NAME CHANGE:	20001215
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">September&nbsp;20, 2013 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>VIA EDGAR CORRESPONDENCE </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Larry Spirgel </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Assistant Director </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporate Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Am&eacute;rica M&oacute;vil, S.A.B. de C.V.</B> </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Form 20-F for the Year Ended
December&nbsp;31, 2012</B> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Filed April&nbsp;30, 2013 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>File No.&nbsp;001-16269 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response to Staff Comment Letter dated August&nbsp;27, 2013</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;Spirgel: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">By letter dated
August&nbsp;27, 2013, you provided certain comments on the annual report on Form 20-F of Am&eacute;rica M&oacute;vil, S.A.B. de C.V. (&#147;AMX&#148; or &#147;we&#148;) for the year ended December&nbsp;31, 2012 (the &#147;2012 Form 20-F&#148;). This
letter sets forth our responses to these comments. For your convenience, we have reproduced below the comments in italics and have provided responses immediately below each comment. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form 20-F for the Year Ended December&nbsp;31, 2012 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting, Page 116 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Comment: </U></I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I>1.</I></TD>
<TD ALIGN="left" VALIGN="top"><I>We note the opinion paragraph is &#147;as of December&nbsp;31, 2011.&#148; Please ask your auditors to opine on effectiveness of your internal control over financial reporting as of December&nbsp;31, 2012.</I>
</TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Response: </U></I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, on September&nbsp;5, 2013, AMX filed on EDGAR a Form 20-F/A, which included an amended report of our
auditors on the effectiveness of our internal control over financial reporting as of December&nbsp;31, 2012. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Consolidated Financial Statements for the Years Ended December&nbsp;31, 2010, 2011, and 2012 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Notes to Consolidated Financial Statements </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Note 1(c). Revenue Recognition, page F-13 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Comment: </U></I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><I>2.</I></TD>
<TD ALIGN="left" VALIGN="top"><I>Refer to your second paragraph. Addressing paragraph 10 of IAS 8, please tell us in detail why your revised accounting policy is appropriate. Based on your disclosure under &#147;Other related services,&#148; it
appears that your distributors are the buyers of the asset. Include in your response the terms and clauses of the distributor agreements you considered in arriving at your conclusion.</I> </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Response: </U></I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The comment
refers to two separate passages in note 2(c) to the consolidated financial statements. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The first two sentences in the comment refer to the second paragraph of note 2(c), on page F-13. That paragraph concerns commissions paid to distributors arising out of postpaid wireless phone service plans.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The third sentence in the comment refers to a paragraph on page F-14. That paragraph concerns our revenue recognition policy for sales of equipment to purchasers, including but not limited to distributors.
</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The subjects of the two passages are different types of transactions, and we address the accounting for each below. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Commissions to distributors for postpaid plans </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In a postpaid plan, the customer is billed monthly for the previous month, in an amount that combines a fixed fee covering specified amounts of
services, plus fees for usage above the specified amounts. We recognize revenue as the services are provided to the customer, provided the other recognition criteria are met as described in the first paragraph of note 2(c). We recognize the related
expenses associated with that revenue as they are incurred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We use the term &#147;activation&#148; to refer to the transaction in which a
customer enters into a service contract with us for a specific wireless line. In most cases, the customer deals with an unaffiliated distributor, acting under a distributorship agreement with us. The distributor arranges for the customer to enter
into a service contract with us for the customer&#146;s line. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our distributorship agreements provide for three types of commissions
relating to postpaid plans. The details of specific commission rates and triggers are complex, and they are set forth in commission manuals we use with our distributors in the various jurisdictions in which we operate. However, the general structure
of postpaid commissions is broadly similar throughout our wireless voice and wireless data businesses, as summarized below. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><U>Activation</U>: We pay the distributor a commission for each new activation by that distributor. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><U>Retention</U>: We pay the distributor a commission for each postpaid service line that is activated by that distributor and remains active for a specified period, provided that the distributor maintains a specified
average level of activations each month. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><U>Volume</U>: We pay the distributor a commission based on the number of lines activated by that distributor that remain active for a specified period, provided that the distributor meets specified criteria for the
volume of new activations. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The commissions we pay distributors for postpaid service customers compensate the distributor
for providing us with those customers. Consequently we classify them as commercial expenses and not as a reduction of revenue. The payments are made separately, and cash payments for commissions are not netted against other payments due from
distributors. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Sales of equipment </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In
addition to selling services, we also sell equipment, principally mobile phone equipment and computers. As described on page F-14, we recognize revenue when the equipment is delivered, the purchaser does not have the right to return it, and recovery
of the amount recognized is probable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We apply this policy to our sales of handsets to distributors. We record revenue from the sale of
handsets at fair value, and the distributor does not have the right to return the product. At the time of activation, the distributor typically sells the customer a handset out of the distributor&#146;s inventory, but our sale of handsets to the
distributor is not part of the activation process. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Conclusion </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Considering the criteria in paragraph 10 of IAS 8, our accounting policies described above, including recognizing distributor commissions for
postpaid plans as expenses, are appropriate because: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">They reflect the economic substance of our transactions with distributors. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">They are prudent, free from bias and complete in all material respects. They represent faithfully our financial position, financial performance and cash flows. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">They are relevant to the economic decision-making needs of users of our consolidated financial statements. Among other reasons, they facilitate comparison with other telecommunications companies reporting under IFRS.
</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We believe our accounting complies with IAS 18, <I>Revenue</I>. Applying IAS 18, we recognize service revenue for providing
services to customers and sales revenue for selling handsets to distributors. We act as principal when we provide services to customers, and the commissions to distributors for activating service customers are not part of either the sale transaction
with the distributor or the service relationship with the customer. The benefit we obtain in exchange for the commissions consists of the enrollment and retention of service customers. Accordingly, we do not have any basis under IAS 18 to apply the
commissions to reduce revenues from either sales or services, so we revised our accounting to report them as expenses. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We acknowledge that we are responsible for the adequacy and accuracy of the disclosure in the
2012 Form 20-F; staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the 2012 Form 20-F; and that we may not assert staff comments as a defense in any proceeding
initiated by the Commission or any person under the federal securities laws of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you have any questions or require
any additional information with respect to the above, please do not hesitate to contact me at +52 55 2581 3700 or Nicolas Grabar of Cleary Gottlieb Steen&nbsp;&amp; Hamilton LLP at +1 212 225 2414. </P>
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<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sincerely,</TD></TR>
<TR>
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Carlos Jos&eacute; Garc&iacute;a Moreno Elizondo</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Carlos Jos&eacute; Garc&iacute;a Moreno Elizondo</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Chief Financial Officer</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">Cc:</TD>
<TD ALIGN="left" VALIGN="top">Nicolas Grabar </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Cleary Gottlieb Steen &amp; Hamilton LLP</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
