On Nov. 22, 2021, Mexican telecommunications giant, América Móvil, announced via a press release that its shareholders approved "an increase by MX$26 billion (US$1.2 billion) in the balance of AMX's buyback program fund for the period April 2021-April 2022." América Móvil also announced the appointment of Claudia Jañez Sanchez and Gisselle Moran Jimenez as independent members of AMX board of directors, which included Chairman and Mexican billionaire Carlos Slim. The following day, América Móvil announced it completed the sale of its 100 percent interest in TracFone Wireless, the largest mobile virtual prepaid service operator in the US, to Verizon. América Móvil stated via a press release, "AMX received the closing consideration of US$3.6 billion in cash, which includes US$500 million of customary adjustment for Tracfone's cash and working capital, and 57.59million shares of Verizon stock."