America Movil to make a bid on Telekom Srbija stake

America Movil (NYSE: AMX) has set its sights on getting a piece of the Serbian telecom market.

Carlos Slim's service provider conglomerate, reports TeleGeography, has filed tender documentation for a 51 percent stake in Serbia's incumbent service provider Telekom Srbija.

Of course, the Mexican operator will face a strong set of European telecom competitors, including Telekom Austria (NYSE: TKA), Deutsche Telekom (XETRA: DTE.DE) and France Telecom (NYSE: FTE), for the stake in the service provider. Set to be completed in Q1 2011, the Telekom Srbija deal is estimated to be worth EUR 2.43 billion ($3.28 billion).

News of America Movil's move on the Telekom Srbija stake comes not long after the Mexican service provider announced that it would seek opportunities outside of Latin America.

For more:
- TeleGeography has this article

Related articles:
Telenor to bid on second Serbian landline license
America Movil to produce TV content; plans Latin America to U.S. submarine cable
America Movil: Broadband access and wireless boost Q3 results
Sizing up the wireline industry in the third quarter 2010
Slim's America Movil shells out $2B to Telmex shareholders

Suggested Articles

LF Edge, an umbrella organization that's part of the Linux Foundation, announced the second release of its Akraino Edge Stack.

Chris Young is leaving his role as CEO of cybersecurity firm McAfee to become a senior advisor with TPG Capital, which has a majority stake in McAfee.

CenturyLink wins a $1.6 billion contract with the U.S. Department of Interior to upgrade its network services and modernize its IT solutions.