América Móvil Buys Telefónica's Operations in Guatemala, El Salvador
January 24 2019 - 5:03PM
Dow Jones News
By Anthony Harrup
MEXICO CITY -- Mexican telecommunications company América Móvil
SAB said Thursday it has bought the Guatemalan operations of
Telefónica SA, and agreed to acquire the Spanish company's business
in El Salvador.
América Móvil, controlled by billionaire Carlos Slim, said it
paid $333 million for 100% of Telefónica Móviles Guatemala and has
agreed to pay $315 million for 99.3% of Telefónica Móviles El
Salvador, which it is buying from Telefónica and several of its
affiliates.
Regulatory approvals are pending for the El Salvador deal.
América Móvil is Latin America's largest mobile-phone operator,
with operations across the region, as well as in Austria and the
U.S.
The Mexican company said the acquisitions, which operate
wireless and fixed-line phones, internet and pay TV services, will
bolster its position in Central America, where it plans to provide
next-generation services including 5G.
Telefónica, which owned 60% of the Central American units, said
the sale is part of its portfolio management to optimize return on
capital, and will also serve to lower debt.
Write to Anthony Harrup at
anthony.harrup@wsj.com<mailto:anthony.harrup@wsj.com>
(END) Dow Jones Newswires
January 24, 2019 16:48 ET (21:48 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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