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By Giulia Petroni
Telefonica SA (TEF.MC) said Thursday that its subsidiary Pegaso PCS SA de CV signed an agreement with AT&T Comunicaciones Digitales, S de RL de CV to be provided with "last mile" wireless access services.
The Spanish telecommunications company said Telefonica Mexico will access AT&T Mexico's wireless "last mile" equipment--the final leg of telecom networks that delivers service to consumers through towers, antennas and fiber-optic cables--but will remain an independent operator.
The agreement is set to be in place for eight years, Telefonica said. After a three-year period, Telefonica Mexico is expected to generate approximately 230 million euros ($254.67 million) in cash flow and achieve a reduction in net debt of EUR500 million.
The financial terms of the deal were not disclosed.
Write to Giulia Petroni at email@example.com
(END) Dow Jones Newswires
November 22, 2019 01:38 ET (06:38 GMT)
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