America Movil, the largest cell phone operator in Mexico confirmed in a statement on Wednesday it reached a deal with Apple to distribute the iPhone in Latin America.

Mexico's El Universal newspaper reported that America's Movil's president Daniel Hajj also informed investors and analysts that the iPhone will enter the market in Mexico in December. The deal to be exclusive to the carrier, the paper said.

America Movil didn't answer a call seeking for comment.

The company founded by Mexican billionaire Carlos Slim Helu operates in 16 countries in Latin America and has more than 159 million of cell phone subscribers. America Movil afilliate in Mexico is Telcel. Its largest competitor in Latin America is Telefonica.

Shares of America Movil were trading at $58.68 on the New York Stock Exchange by 2:25 p.m. slightly 18 cents down.