Hi, good morning, everyone. Thank you for joining us today to discuss our second quarter 2026 financial and operating results.

We have on the line Mr. Daniel Hajj, CEO, Mr.

Carlos García Moreno, CFO, and also Mr. Oscar Von Hauske, COO.

Thank you, Daniela. Welcome, everyone, to América Móvil second quarter of 2026 financial and operating report.

Carlos is going to give us a summary of the results.

Thank you, Daniel. Good morning, everyone.

We can see that throughout the second quarter, with the Iran war raging, oil prices remained elevated, peaking mid-May at a price roughly 70% higher than prior to the war. This brought about greater concerns regarding inflation worldwide and the expectation, and in some cases the reality, of higher interest rates, including those at the long end of the yield curve.

The 30-year US Treasury notes reached their highest yield in nearly 20 years. However, in spite of the supporting dollar rates, the US dollar did not grow stronger against most currencies in our region of operations in the quarter, and, in fact, actually depreciated 6% versus the Colombian peso.

In the second quarter, we added 3.5 million postpaid subscribers, with Brazil leading the way with 1.5 million subscribers. Colombia followed with 250,000, Peru with 173,000, Argentina with 154,000, and Mexico with 101,000 postpaid subscribers.

In the prepaid segment, we registered 3.4 million net losses as Colombia and Argentina cleaned up their base. In the fixed-line segment, we connected 531,000 new broadband accesses.

Mexico was the main contributor with 170,000 accesses, followed by Brazil with 83,000, and Colombia with 74,000. As regards PayTV, we added 110,000 units, with most of them coming from Argentina, Eastern Europe, and Central America.

Mobile postpaid and fixed broadband accesses remain the main drivers of growth of our customer base, increasing at an even faster pace, 9.1% and 6.1% respectively, compared with the year-earlier quarter. Second quarter revenue was up 3.1% year-on-year in Mexican peso terms to 241 billion Mexican pesos, as service revenue increased 3.4% and EBITDA 3.8%.

Compared to the year-earlier quarter, the Mexican peso appreciated significantly versus the dollar and the euro, at 12% and 9.6% respectively, while remaining flat versus the Brazilian real and depreciating 3% versus the Colombian peso. At constant exchange rates, service revenue was up 5.1%, while EBITDA increased 5.3%.

It would have increased 6.7% absent a one-off charge in Mexico. Mobile service revenue maintained the pace it has observed over several quarters, 6.5%, while fixed-line service revenue accelerated to 2.7% from 1.7% the prior quarter, with the downward trend in fixed-line growth coming to an end.

On the mobile platform, postpaid revenue expanded 7.2% as in the preceding quarter, with prepaid revenue growth continuing to accelerate to 5.3%, up from 3.1% a year ago. Mexico, Colombia, Central America, and Eastern European blocks were the best performers in terms of improved mobile service revenue growth.

Regarding fixed-line service revenue in the residential segment, both broadband and PayTV revenue grew somewhat more rapidly than in the preceding quarter, 4.2% to 5.4%, up from 3.1% to 4.6% respectively. B2B revenue growth remained stable at 4.2%.

Mobile Peru and Central America all contributed to the improvement in broadband revenue growth. As for the recovery in the PayTV segment, Brazil was the top performer, moving up from a 4.7% pace to 7.5% pace.

Operating profit totaled 51.8 billion and was up 9.5% in Mexican peso terms. Our comprehensive financing cost rose to 10.4 billion pesos, reflecting lower foreign exchange gains that more than offset lower net interest costs.

Our net income totaled 24 billion pesos, a 9.2% increase from the year-earlier quarter. It was equivalent to 40 peso cents per share and 47 dollar cents per ADR.

Throughout the first half of the year, our capital expenditures amounted to 48 billion pesos, our share buybacks to 4.6 billion, and the service of our labor obligations to 8.4 billion pesos. These were all covered by our cash flow, which together with net dividend income of 1 billion pesos allowed us to reduce our net debt in cash flow terms by 30.9 billion pesos, as you can see in this slide.

Excluding capitalized lease obligations, net debt totaled 402 billion pesos at the end of June, which represented 1.331 times last 12 months EBITDA after leases. With that, I will conclude this presentation and will pass the floor back to Daniel.

Thank you, Carlos, and we can start with the Q&A.

Hi, everyone. Good morning.

Thank you for taking the question, and congrats on the numbers. We loved the deleveraging we saw.

My question would be regarding competition in Brazil. You mentioned a more competitive and promotional environment in Brazil.

Which segments are most concerned, and how does this entry-level hybrid plans, such as Claro Flex, fit in this scenario? I'm asking specifically about the new around 30 reais per month low-end hybrid plans that all the three mobile carriers launched.

Thank you.

Thank you, Leonardo. Talking a little bit about Brazil, I think in Brazil we have a lot of things.

The first thing, well, if you see one year ago, second quarter, the growth was very high. The comparative between second quarter last year and second quarter this year is a little bit difficult because second quarter of last year, the growth was higher than it used to be in the other quarters.

It's a difficult comparison between quarters, okay? That's one of the things.

The second, no doubt that the market has been more promotional. Where we are seeing more promotions are in prepaid and in postpaid.

What you see, what you talked about, the Claro Flex, I don't think there's any change on the trends on Claro Flex, postpaid, prepaid. I think everybody is more or less seeing the same trends.

We are not selling more cheap postpaid or more cheap prepaid, we are seeing the same trends. The only thing is that promotions are becoming a little bit more strong.

I still think that we're going to have a recovery in second, but better in third, but more in the fourth quarter. We're going to see again a little bit more growth in mobile.

If promotions and our competitors are more aggressive, then we need to be a little bit more aggressive. I'm not sure what is going to happen in the next months.

Maybe the promotions are not so aggressive, but we don't know, depends a lot. We're following them since May.

TIM and Vivo has becoming more aggressive, we have to follow, and we're going to follow that. That is what is happening.

In the other side, in the fixed side, we are being and growing revenues. We are growing revenues from let's say we have in Brazil, I can tell you, we start with one year ago 1.5% growth, then 1.8%, then 2.6%, and today 4.1%.

In fixed, things are going better, and things are looking stronger. At the end of the day, we have a very strong network.

We are doing very good in 5G. We are investing in customer care.

We have a very good NPS. We are doing convergence.

If the market is aggressive for this moment, then we're going to be a little bit more aggressive, and in the future if things are going the other way and less promotions, then we're going to see better revenues. We are still gaining in mobile portability.

We are the gainers in postpaid in mobile portability. All over all, we are looking Brazil good, and that.

The other thing important that you can see is that we think and we're feeling a little bit a slowdown in the economy. That's also one of the things that we're looking why revenues are decreasing a little bit, because the economy we see a little bit of slowdown.

It's too early to see. Let's see what's happening in the next months, and then we can find if the trend is going slow or it's going to stay the way it is.

That's more or less what we have in Brazil, Leonardo.

Makes a lot of sense. Thank you very much, Daniel.

Thank you.

Hi. Good morning.

Thank you for the opportunity to ask questions. I wanted to ask about Mexican prepaid performance.

The revenue growth we're seeing there has been accelerating every quarter for many quarters already. Usually, you discuss this in the light of improving Mexican economy.

What we hear from consumer companies, it's kind of a not such a great story in the consumption side. Yet your performance is good.

What kind of initiatives have you been putting forward? What is happening in the competitive environment from inside or outside of América Móvil that's helping you to deliver these results?

Thank you.

As you said, we think that the economy at the beginning when we were almost flat in prepaid and were growing maybe 1% in prepaid was maybe two years ago, when we think that the economy was in a slowdown period. Right now, I think the economy is going back.

Our prepaid customers are consuming, are recharging more, and are charging higher cards, higher prepaid cards, okay? Instead of charging 50 pesos, they are charging 80 or 100.

People is starting to use more and more. 5G in Mexico really, we are the only ones that has a very good 5G network, and that's also helping us a lot.

In the other side, we have a little bit more coverage, we're gaining some good subscribers that we don't have. We're starting to do a little bit more coverage in some places.

All over all is we have a very good base on prepaid. Difficult to say, but we have a lot of our prepaid customers are consuming.

We don't have a base that some of them are consuming or they are maybe one month consuming and two months not. All these customers are every month are charging and using more data.

Those are the things that are helping a lot on the prepaid side. Our base of people who is recharging is growing, and that's very good for us.

On the economy, Marcelo, Carlos.

Just a small detail on the economy. As Daniel points out, I think that the economy is on a recovery path.

It is coming back. I think at this stage is very uneven, it's not affecting all the sectors the same way.

I'll give you the two reference points. As of June, we have registered the highest ever volume of sales of automobiles, highest ever.

The growth of the automobile sales are almost identical to our prepaid revenues, the growth of the prepaid revenues, just to put it in perspective. Another reference point is if you look at other services like restaurants, they're booming, all sorts of restaurants, high-end, low-end, all of them are booming.

It's a little bit uneven. You have some sectors that are doing particularly well, some other sectors that are still not recovering.

Pretty interesting. Thank you.

Thank you.

Hi, everyone. Thanks for taking my questions.

My first question is on Mexico mobile revenue growth. It has registered a very strong growth, but I'm wondering if it had any positive impact from the World Cup that is happening in Mexico.

Are you seeing higher roaming revenues? Have you seen higher growth in June compared to other months?

The second question is also on Mexico. How is the progress happening on the mobile registration, and what percentage of customers have already been registered on this front?

Thank you.

The first one, I think the World Cup impact, but impacts a little bit, I don't think it's too much. There's not the the World Cup was not only in Mexico, only we have only like seven games, something like that.

There's people coming. We see more roaming here in Mexico, more people using.

It's not only the roaming; it's people is using more. It's looking We have a very good 5G network, they are looking the games in the in the iPad, in the phone.

That that would have a little bit more consume, but that will be only two two weeks in June, it's not too much. What what we are seeing is that a lot of our customers who are coming back to our store and wants to renovate, they are renovating maybe I can tell you that maybe half of our subscribers are upgrading their plan.

That's very, very important. They want to use they want to have a better plan.

They want to use more. They want they're using more the handset.

That is what is giving us on postpaid a very good growth. A lot of our customers are moving to a higher plan.

That's what you could see. The market is very competitive.

We have a lot of competition in the market. As I said, we are the only really 5G network, very good network all around Latin America.

We're working a lot on quality. We're working a lot on speed, customer care.

We're trying to give our customers the best service, and that is making us to to to grow that. In the registration, well, from now on, there's the the the what what what we said in in our is that there's going to be new dates for the registration.

The the dates are going to be depending on the end of your number is where you need to be registered. It's going to be only the prepaid subscribers.

The postpaid are already in, they are not they don't need to register the the postpaid subscribers. I don't know exactly the number on the industry, but there's still a lot to do on that.

Every month every 15 days, every month, there's going to be a new number, and then you have to register your prepaid number. That's what it is.

It starts in 15 of August and ends on I think end of November or beginning of December. That's what the authorities are saying, and that's what the people needs to do.

In prepaid, they need to register. Since January, all the people, all the new customers that all of the companies have has to be registered.

Since that, all of them has to be registered. This is only for the actual customers that need to register their number.

That's where we are, and and and we hope that all of them will register,

no? Thanks for the responses, everyone.

Thank you.

Hi, everyone. Thanks for the opportunity.

I have a couple of questions. The first one on the line other financial expenses, it rose to roughly 6.9 billion Mexican pesos in the quarter.

This was a 40% increase year-over-year. Could you please break down what drove that increase, but specifically how much of this relates to cash outflows tied to your labor obligations and pension funds?

We saw this was nearly 6.9 billion Mexican pesos in the quarter as well. Also looking forward, what level of annual pension-related cash outflow should we model given the maturity of the Telmex plan?

This is the first one. The second on NuCel, could you gently walk us through how it's reflected in your accounting and KPIs?

Specifically, are NuCel's users counted within your reported subscriber base and net adds? We think so, but if you could confirm.

Also, how is the economics recognized, full revenue or only Claro's revenue share, we can have an idea on how this impacts ARPU? Finally, how should we think about the associated network commercial costs and margin profile of NuCel in your results?

Thank you so much.

See, thank you, Rogerio. On the first question, on other financial expenses, basically what we are reflecting is partly a little bit of the elements of the fine that was mentioned a while ago, because as the first ruling was some years ago, part of the fine ended up being financial expenses, no?

It was financial penalties that were accrued since the initial ruling, okay? The other part that is important in other expenses generally, and this is you will see it all the time, is that that's where we have the hedging, the currency hedging transactions, among other things.

Typically when you are gaining on FX to the extent that those gains had already been hedged, you're giving back part on other expenses. It works on opposite directions both cases, okay?

That's part of it. It's partly fine and partly other expenses.

Nothing to do with the pensions. The pensions are accrued and what we are showing here is an accrual basis.

It's not on a cash flow basis, okay? The accrual basis there is no change.

On NuCel, there's two types of MVNOs in Brazil. One, we call them [acreditados?]

, and the other ones, authorized MVNOs. NuCel is the one that are like [acreditados?]

that they work like an agent, commercial agent. Now those customers count as our base.

We count them as in our base in Claro. That's the way we count.

All the NuCel subscribers are inside Claro customers.

Perfect. The revenue is the full revenue charged by NuCel that enters as your revenue?

No, the revenue is the part that is including in us, that's our revenue, and the rest is NuCel revenue, no? We divide that.

That's what we have. NuCel has been working maybe for one year or more,

so. Okay.

Fair enough. Very clear.

Thank you so much.

Thank you.

Hi, thank you for taking my question. My question is regarding capital allocation.

I was wondering, given the current weakness we've seen in the US dollar and how it could benefit your investment needs, do you see any downside risk to your full-year CapEx guidance? If so, and given you're currently standing in the lower end of your leverage ratio, do you see incremental free cash flow as being destined for share buybacks?

Thank you.

The the weak dollar, it's it's difficult for us in CapEx, because then for the same things that you do, then it's going to be more dollars. We we we we need on on on dollars, it's more dollars for the same budget that we have.

It's in terms of the CapEx, it's not helping, while in terms of revenues, it's helping. That's where we we are and and and we're deciding what to do.

In in CapEx, it's a little bit more. We are in the target that we have $7 billion, and it's $7 billion a little bit more, a little bit less, but we are in that target and we're not going to move on that.

On the second question, can you repeat it, please?

Leverage?

On the leverage, you say,

well, go ahead. If you see any incremental cash flow going for buybacks?

No, I think what we have said consistently is we first determine what our leverage ratio is meant to be, okay? We need to look at our leverage ratio considering the expenses that we are already committed to make, which would include the purchase of Desktop, which likely is going to close this year, okay?

That's our expectation, in any case, okay? We basically manage to stay within the range that we have set.

It's not more than 1.5 times net debt to EBITDA, not less than 1.2 times net debt to EBITDA. That, you can see that we have some limits in terms of how much we can reduce our leverage at this point.

Also adding another thing that we just announced yesterday, the WOW acquisition that we have, I think makes a lot of sense for us in Peru. It's some more fiber more than 3 million houses passed with fiber, 0.5 million customers, and make a lot of synergy with us.

We're open to see more of those acquisitions, they are good for us. They are broadband customers that we can sell prepaid, postpaid, or TV also.

This network is outside of Lima, and it's a good complement for us. Help us also the fiber to do corporate customers that we're growing and doing very good there.

Small businesses,

as Oscar is saying. We are also looking for other good acquisitions that we can have, no?

Yes. Next question.

Hi. Hey, how are you?

Hope all is well. I have one question, please, and it's related to M&A strategy in Europe.

If you can let us know what you were looking at, what make sense for M&A at this point when you look to Europe, please? Thank you.

We are open to see everything, but what we're really looking is this type of companies like Desktop, like WOW, that add fiber customers, that add the fiber complement to our fiber network, that we can sell more things to those customers like prepaid, postpaid. As I said also, the fiber will be in small and medium companies, have a lot of synergies.

I think we can have a lot of synergies with this company. Those are the companies that we're looking.

We are not looking to go outside right now to other countries, but we're looking things inside our countries that will make us grow a little bit faster and consolidate the market. Consolidation of the market will be important.

Perfect. Thank you.

Thank you.

Hi, thank you for taking our question and congratulations on the results. It's two questions.

The first one is on Colombia. You delivered really strong results, consistent with past quarters.

Could you talk about how you see this market evolving, especially now that some time has passed since the acquisition of Telefónica closed? The second question is on Argentina.

Given the recent competition authorities resolution on potential consolidation in the market, does it change how you view the long-term outlook for Argentina? Or any comments you can give are greatly appreciated.

Thank you.

Good that you're talking about other countries. Colombia, I think we're doing very good in Colombia.

Growing very fast in mobile. We were the first ones in let me tell you, we're growing from 7% to 7.6%, then to 10% the growth in mobile revenue.

We were the first ones that do 5G there. We have a very good network, and portability is going well with us.

That's the reason why we're growing. Also a lot of customers are moving to higher plans.

We work a lot on also service, quality, speed. All of that is making that our customers will use more the service and that new customers are coming to our network.

In the other side, in the fixed side, we're moving also to do more fiber. Mobile is more challenging, but I think we can grow.

We are doing fiber. We have a good network, good sales and distribution.

I think we're going to do much better in the fixed

in corporate. As well in Colombia, as Daniel was saying, I think on corporate segment, we are growing pretty nicely in Colombia as well.

Good in mobile, good in corporate, and moving to be better in broadband and fixed, in TV, mobile and broadband and fixed TV. That's where we are.

In Argentina, well, we're going to compete against a big competitor there, but nothing else to do. We have fiber.

We have a good broadband. We have 5G, and we're growing.

That's what we want to do, and that's the same strategy that we have, no? Do fiber to be more customers in broadband, in TV, and we are competitive in price.

We have good prices there. That's where we are.

Where we're growing also very good, we don't say about Peru, but in Peru we're growing very good in broadband, very good in corporate segment. The growth in Peru, I think on the fixed side was around 12%, it was incredible the growth in Peru.

That's what we're doing and looking to still grow more there. There's a lot of opportunities in the corporate segment also in Peru.

Really clear. Thank you.

Thank you.

Hi, thanks for the follow-up question. If you could provide more details on the regulatory fine of 1.3 billion Mexican pesos on Telmex.

What are the reasons behind it, and also the potential recurrences of regulatory fines going forward? Thank you.

This is something that dates back to 2017, and in 2020 this fine was imposed on an alleged violation of asymmetric measures. We contested the fine, and now in June it became final.

We believe it's disproportional. It doesn't make any sense, this fine.

It's 6% of the revenue, which is the minimum accordance to the law, and we think it's completely absurd what they do. Unfortunately, at this stage we cannot do anything.

That's what we have. It's not on Telmex.

It's on Telnor, an affiliate of Telmex, and that's what give us this 6%. We think those fines are absurd, absurd, we hope and we don't think there's going to be any more of those.

Let's see.

Thank you.

Hi, thank you very much for the follow-up. I just want to circle back to the first question regarding Brazilian mobile.

Based on what you said, you expect the growth to improve in the third and fourth quarter, do you see room to increase the Controle prices, the mobile Controle price, hybrid prices this year or not? Could you make some comments on that, please?

Thank you. Look, I I

I think we can we can do increase of prices. There's a lot of competition in Brazil, we are not going to do anything on that until we see the the we we we want at the end of the day is we are going to be competitive.

We have the network. We have the coverage to be competitive, and if there's one, two, or three months or quarters that the the promotions are more aggressive, then we're going to be there.

If there's that happens in May with Vivo, in May with Vivo, we need to put more promotions. With TIM, we need to put more promotions and to be more aggressive.

That's what we do in May and June. We don't know what is going to happen.

As I said, we don't control the competition, no? We control what is internal in the company, not the competition.

I don't know exactly what they are going to do. In in Brazil and in all the countries, we are prepared to compete, and if they do more promotions, then we're going to do more promotions.

If the promotions are a little bit more relaxed, then we can relax the promotions. We are a long-term player, and if it's for some quarters or one year that they're too aggressive, well, that happens in Colombia like three or four years ago, no, with the entrance of the new competition there, very aggressive.

Today's we're growing, and we do what we need to do in the market, in in our network, in training our people. Other thing that we're doing is we're using and starting to use a lot more AI agents, a lot more AI, and it's going to help us to reduce costs.

It's going to help us to understand more our customers and to see what opportunities we have. It's not a short term.

I think that's something that we're going to do a long term. It's going to help us in in in the We're seeing that we are growing more our EBITDA than our revenues, and that's because we are controlling our costs and expenses.

That's where we are. That's really the strategy of the company all around Latin America and in Europe.

In some countries, maybe we have some competition one quarter or for six months, in other ones in other one, and, well, we are prepared to do that. That's where we are and and and what that's our strategy, no?

All right. Thanks a lot.

Thank you.

Thanks. In Mexico, you've had very good margins for quite some time.

I think they stepped up a couple of years ago, but you do show revenue growth there. Just curious if there's a way to further leverage that to take margins higher specifically in Mexico?

As what what I said, we we are really working hard to control costs, to control expenses, to find ways that would be good for our customers to increase their plan. Because we we we we don't want that we sell a better plan and the people and our customers don't use that plan.

We want that what we sell, they use, they will be happy. We want customers for a long term, we don't want customers for short term.

Of course, if we can find a way to increase more revenue and to to to just and to control cost in all the companies, of course, the margin will will increase. I think all over all this quarter against last quarter of of of last year, the second quarter of last year, the margins of all the companies increase a little bit.

Almost not all, but in in almost all the companies, our margin of EBITDA increase this quarter.

Okay. Then, sorry if this was touched on before, but the fiber acquisition and maybe potential other acquisitions, I assume is not going to negatively impact what has been a good trajectory in terms of capital return with dividends as well as share repurchase.

Related to that, you still have a stake in Verizon. Is there any thought of monetizing that stake in order to provide additional cash for acquisitions or capital return?

Obviously, the leverage ratio of the company is within your target range, just kind of curious how all those things fit together in terms of maybe selling Verizon, how much fiber more to build, and whether we're going to see a big step up more in capital return in '27?

The cash flow this first six months was really good. I think we increase a lot our cash flow.

Still we need to give the dividends for the second half are there. With the dollar appreciated, it's a lot of dollars what we need to give.

It's good. No, I think what Carlos is saying, we have a target, and then at the end of the day, it doesn't have to be immediately in the short term.

I can tell you that in the long term, there's going to be acquisitions if we have acquisitions, and return to capital to the shareholders, and reduce the debt. Those are the three things that we have.

We want to be as financial health as possible because, well, maybe we can have other opportunities in the future. That's what we are.

Still what Carlos is saying, we need to pay the acquisition of Desktop at the end of the year. All over all, we are going to be looking for those three things: acquisitions, returning capital to shareholders, and reducing debt.

That's where we are. We are not seeing the things in a short term, okay?

Today what is today, and then tomorrow we need to see a little bit more on a medium and long term to do all these things, okay? That's where we are.

I still personally think that there will be more opportunities like Desktop, like WOW in the future. Let's see.

That's why we want to be healthy and to be prepared to do those things, no?

Those acquisitions.

Why continue to own Verizon?

When the share was at some price, we sold some of that. We take the decision to sell half of that.

We haven't take the decision of the other half of that, we're looking. We are sure that in the future we are going to divest, maybe.

We don't know exactly when we're going to divest. We're

not on a hurry.

We're not on a hurry, there has to be a good price and we're not on a hurry to divest.

That's a pretty good price. It's a pretty good price right now.

Yeah. We sold it at a higher price than this one.

Yes.

I know.

Thank you.

Thanks.

Thank you.

Hello. Good morning, and thank you for taking my call.

Just a quick follow-up on the Mexico numbers, specifically the prepaid subscriber numbers. I noticed that you had positive net adds in Q2 2026 versus Q1 2026.

Since we're still on the ongoing registration process, I wonder if you could share a little bit of color or the factors that guided to have positive net add numbers in this quarter. Was it promotions, the World Cup, mobile portability, or a combination of factors?

Thank you.

Look, it's very difficult to explain what is happening. Since the registration in January is with the new customers, it's very difficult because some customers decide not to renew, because if they renew, they have to register.

People are not registered. We have less [disconnections?]

, a little bit less sales, but less disconnection. It's very difficult the way we're seeing and trying to understand what people is thinking.

Change a little bit because people used to buy very cheap, and then use, and then buy another handset, and then use. The behavior of the prepaid subscribers are changing a little bit.

We need to see. At the end of the day, the most important thing in prepaid is the amount of revenue that you are getting per month.

I think that's what is doing good, and we're doing fine on that.

Just to give you a reference point, net adds, prepaid net adds at second quarter were 146,000 in Mexico. A year ago, second quarter last year, they were 83,000.

Two years ago, they were 106,000. If you look at the last three years, the second quarter has given us the better net adds in prepaid.

Other thing that is happening in all the countries is that there's a lot of people moving from prepaid to postpaid. In some countries they are moving more from prepaid to postpaid, in other ones a little bit less.

As people is understanding that, well, the handset is part of the life of the person, they are moving when they can, they move to a postpaid, and in postpaid they higher more data and more applications and do more things. That's going to be the trend for the next five years.

There's going to be more people moving from prepaid to postpaid.

Just a quick follow-up, if I may. Do you perceive there is an effect of customers coming in from Movistar now that there's an announcement of a deal, not an approval yet, but there's an announcement of Movistar changing hands?

Do you think that is [unclear] customers?

No, I think it's difficult that all the customers would know that the company is going to be for sale or not for sale. Some of them know, other ones no.

I think what we have is in number portability, we have been gainers in number portability, and we still are gainers, we gain in number portability. I don't know exactly if it's because the company was for sale and then it's still not for sale or they are not selling because I don't know exactly what those regulatory is happening, but, well, we're gaining customer from all the companies.

Thank you.

Thank you.

Just thank everyone for being in the call. Thank you very much.

Bye-bye.