Reuters reported that AT&T’s chief strategy officer, John Stankey, says AT&T is ‘intrigued’ by the expansion opportunities presented by Latin America and México in particular.
Stankey declined to comment on media reports linking AT&T to certain América Móvil assets in México, but conceded to Reuters: ‘I think we would be asleep at the wheel (if we were not interested) and we are not historically known to do that … So yes, we are intrigued by it … and I think when you are in the M&A (mergers and acquisitions) game, you learn that you can’t always force your timing. Sometimes timing has to come to you. And exactly how that is going to work out – who knows?’
CommsUpdate has reported that América Móvil’s owner, Carlos Slim, is ready to sell off parts of his Mexican telecoms business in an effort to cut his company’s market share across the sector below the 50 percent mark, thus avoiding regulations that apply only to dominant players, and cease being a ‘preponderant economic agent’.
It was reported late last week that América Móvil had contacted AT&T Inc., Softbank Corp. of Japan, Bell Canada and China Mobil with a view of selling certain Telmex and Telcel assets in a strip of states from north to south, along México’s eastern coast. The package has been valued at $20 billion.
In June AT&T sold its 8 percent stake in América Móvil, ending a relationship with Carlos Slim that stretched back to the 1990s.
(from Telegeography)
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