America Movil, MMX, Southern Copper, Vivo: Latin Equity Preview

By [bn:PRSN=1] William Freebairn []

Aug. 27 (Bloomberg) -- The following companies may have unusual price changes today in Latin America trading. Stock symbols are in parentheses, and share prices are from the previous close. Preferred shares are usually the most-traded class of stock in Brazil.

The MSCI Latin America Index fell 0.9 percent yesterday to 3,875.43.

Brazil

MMX Mineracao e Metalicos SA (MMXM3 BS): The iron-ore producer controlled by Brazilian billionaire Eike Batista bought about 1 million cubic meters of pine forest to provide fuel for pig-iron output. The company did not give a price for the transaction in a statement sent via Market Wire yesterday. MMX fell 8.4 percent to 14.20 reais.

Vivo Participacoes SA (VIVO4 BS): Brazil's largest mobile- phone company plans a 1-for-4 reverse stock split. The transaction must be approved by shareholders, Vivo said in a regulatory filing yesterday. Vivo rose 0.1 percent to 8.03 reais.

Mexico

America Movil SAB (AMXL MM): Latin America's largest mobile phone company paid $289 million upfront for a new 15-year operating license in Ecuador. The company will pay the remaining $191 million owed over five years, Daniel Bernal, legal representative of America Movil's Ecuador unit, told reporters yesterday in Quito. America Movil declined 1.5 percent to 25.49 pesos.

Peru

Southern Copper Corp. (PCU/C PE): Peru's largest copper producer must rehire workers fired for taking part in a strike, Cabinet Chief Jorge del Castillo told reporters yesterday in Lima. Southern Copper and two other mining companies must rehire the 31 workers who took part in a June national strike, the government ordered. Southern Copper rose 0.6 percent to $25.06.

To contact the reporter on this story: William Freebairn in Mexico City at wfreebairn@bloomberg.net.