Telcel is a Mexican wireless telecommunications company, owned by América Móvil. Founded in 1989 and based in Mexico City, Telcel is the leading provider of wireless communications services in Mexico. As of December 31, 2006, Telcel's cellular network covered more than 63% of the geographical area of Mexico, including all major cities, and 90% of Mexico's population. Telcel holds concessions to operate a wireless network in all nine geographic regions in Mexico using both the 850 megahertz and 1900 megahertz radio spectrum. According to Cofetel (Comision Federal de Telecomunicaciones—Mexico's Federal Telecommunications Commission), as of July 2008, Telcel's subscribers represented an estimated 77.2% share of the Mexican wireless market. On August 2011, Telcel reported it has 66.9 million cellular subscribers.