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América Móvil set to buy Yoigo
06 August 2012
Movistar, Vodafone and Orange said to be out of bidding for TeliaSonera’s Spanish unit
Carlos Slim’s América Móvil has emerged as the leading contender to buy a majority stake in TeliaSonera’s Spanish mobile subsidiary Yoigo after Telefónica’s Movistar, Vodafone and Orange faced legal restrictions, reported Expansion.
If the deal goes ahead, Yoigo will become América Móvil’s third European acquisition.
The terms set in 2000 for 3G operator Yoigo bans it from selling the unit to another 3G operator. Telefónica, Vodafone and France Telecom-Orange already have Spanish 3G licences.
TeliaSonera recently decided to divest its stake in mobile operator. In recent weeks América Móvil has taken significant stakes in both KPN of the Netherlands and Telekom Austria. GTB
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