Mergers and Acquistions News
Categories: Telecoms
August 5th 2011, 16:16PM
America Movil intends to complete its takeover of the fixed-line operations of Telefonos de Mexico (Telmex) by purchasing the 40 per cent of the company that it has not already acquired.
The firm is seeking to use a combination of cash and credit to facilitate the $6.5 billion (£3.99 billion) deal, chief financial officer Carlos Garcia Moreno told Dow Jones Newswires.
It will offer 10.5 pesos (53p) for each Telmex share and Mr Garcia Moreno said America Movil, which purchased the holding company that owned 60 per cent of Telmex in 2010, is switching its attentions back to Mexico after spending 12 months integrating Telmex Internacional - which it also purchased - across South America.
"Synergies to a large extent depend on the capacity to integrate companies and that has become clearer to us," he stated.
Earlier this year, America Movil announced it had purchased 20 per cent of shares in StarOne, a Brazilian satellite services provider that has 255 million wireless subscribers.
Related News
Categories
- BPO (32)
- Hardware (118)
- IT Services & Consulting (227)
- Media & Information Services (167)
- Semi-Conductors (77)
- Software (230)
- Telecoms (331)
Archive
- May 2012 (0)
- April 2012 (0)
- March 2012 (0)
- February 2012 (0)
- January 2012 (1)
- December 2011 (20)
- November 2011 (20)
- October 2011 (20)
- September 2011 (20)
- August 2011 (20)
- July 2011 (20)
- June 2011 (21)