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Macquarie Securities downgraded American Movil, which faces intensified competition in Mexico from AT&T (T) as growth slows in Brazil and at its U.S. subsidiary, TracFone. Kevin Smithen, an analyst at Macquarie, said in a research note that America Movil’s (AMX) plans to expand in Europe seem at a dead end. TracFone, meanwhile, added only 13,000 subscribers in the September quarter. Revenue was flat from the year-earlier period. T-Mobile US (TMUS) Scalper1 News
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