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Iusacell set for agreement with Telefónica
13 June 2012
Mexico’s Iusacell expected to announce telecommunications infrastructure sharing with Telefónica
Mexico's third largest wireless telecoms operator, Iusacell says it will reveal a deal with Spanish telecoms provider Telefónica. According to CNN Expansion website, the agreement could involve sharing of telecommunications infrastructure.
Reuters said, citing Iusacell, that the deal with Telefónica will be announced officially today at a press conference in Mexico City. The agreement would also boost their ability to compete against Carlos Slim, the businessman who owns a 70% stake in América Móvil, and is a leading provider of mobile, fixed-line and internet services in Mexico. However, officials at both the companies declined to comment on the matter on Tuesday.
Iusacell is awaiting regulators’ decision on Televisa’s bid to acquire half of the company, which is not expected to be announced until this week, Reuters reported.
Televisa had earlier submitted a $1.6 billion bid to acquire half of Iusacell in 2011. However, Mexico's Federal Competition Commission rejected the proposal citing a coalition between Televisa's chairman and TV tycoon Ricardo Salinas, who owns Iusacell.
On June 6, regulators voted again for Televisa’s bid as the two companies asked to reconsider the transaction. GTB
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