Telefónica not looking to buy Telcel assets
Telefónica México denied rumors that it was looking to acquire Telcel's assets.
There are no talks between Telefónica México and América Móvil to buy its assets, though there might be between Carlos Slim's firm and Telefónica's Spanish headquarters, said Telefónica México chairman Francisco Gil Díaz, as cited by Reuters.
"I think that right now, that is not something that is being worked on," Gil Díaz told Reuters.
América Móvil has been trying to sell assets since 2014 to break its market share of 70% of cell phone customers and 60% of landlines, and thus weaken its dominance.
To comply with Mexico's new telecom law, América Móvil placed US$3.7bn worth of assets on the selling block in July, with no takers so far.
Telefónica, with 20.1% market share as of 2014, is the second largest telephony operator in Mexico. It has reportedly been looking to increase its market share.
Rumors surfaced last year that it was looking to buy part of third largest operator Iusacell's assets. However, it was US operator AT&T which acquired the totality of Iusacell in November for US$2.5bn, a move that was welcomed by Telefónica.
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News in: ICT (Mexico)
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Other projects in: ICT
Get critical information about thousands of ICT projects in Latin America: what stages they're in, capex, related companies, contacts and more.
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Other companies in: ICT (Mexico)
Get critical information about thousands of ICT companies in Latin America: their projects, contacts, shareholders, related news and more.
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Mexican broadcast giant TV Azteca S.A. de C.V., owned by Grupo Salinas, generates over 10,000 hours of content per year operating two national networks, Azteca 13 and Azteca 7 t...
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Def Alliance is a Mexican consulting company that provides services and solutions to the manufacturing, entertainment, transportation, mining, utilities, and health and safety s...
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Magal is a global integrator of operational solutions for enhanced security, safety and efficiency. With over 50 years of proven experience, Magal specializes in designing and d...
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Telephones of Mexico S.A.B. de C.V. (Telmex) is a provider of telecommunications and information technology, subsidiary of Mexican América Móvil. The company offers connectivity...
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The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
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Valores Corporativos Softtek S.A. de C.V. (Softtek) is a global supplier of information technologies, established in 1982 by the Mexican business woman Blanca Trevino, to offer ...
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Elara, founded in 2004, offers telecommunications and technology solutions in Mexico and the Latam market. Through its four business units, Elara innovates and creates connectiv...