The stock of America Movil SAB de CV (ADR) (NYSE:AMX) closed at $18.74 and maintained that standing in yesterday’s trading session. This provider has expressed its willingness to pay the government a total sum of $1.08 billion for wireless telecommunication assets used in the South American nation. That will show its full compliance with the Colombian arbitration ruling.

In a statement the company outlined that Comunicacion Celular (COMCEL), which happens to America Movil’s Colombian unit, will continue in its efforts to challenge the arbitration award. COMCEL has expressed its commitment to ensure that it exhausts each and every national and international available legal action towards challenging the arbitration award.

The government’s legal defense agency opined, “In July, a Colombian arbitration panel said America Movil and Telefonica failed to return installed telecommunication networks and infrastructure as part of agreements to provide cellular phone service in Colombia more than a decade ago.”

Original contracts signed in 1994 provided that it was going to take a minimum of 10 years for the networks to be returned to the state. The drafting of new contracts resulted in the elimination of the return of the contracts. However, another legal authority overruled them after putting in place the argument that new contracts couldn’t be modified at all.

America Movil has had its fair share of challenges along the way. Just like the rest of the top providers globally it did not let that weigh it down. It has been seen making steps to maintain it business stability. A number of investors recently spoke saying that they were happy with the way the company’s management was going about matters.

Business competition is growing fierce on the global arena and one of the provider’s executives said that they hope to deal with the pending legal issues as fast as possible. A lot of eyes will be fixed on the company to see to it whether or not it will make good its promise to make the settlement.