America Movil shareholders are preparing to vote Friday on a spin off of as many as 11,000 wireless towers in Mexico, a move that would create Latin America’s second-largest renter of tower space. The new Telesites company would compete with American Tower, which has more than 8,000 towers in Mexico and more than 32,000 in Latin America, according to TowerXchange.

America Movil now uses the towers for itself. Telesites would rent space to the company and other operators under the plan. America Movil, controlled by billionaire Carlos Slim, is studying how to break apart operations in Mexico, where sanctions are cutting into profit. Among the sanctions imposed on the company, it had to eliminate fees it charged other operators to connect to its network.

Mexico Infrastructure Projects Forum 2015 in Monterrey Nuevo Leon