Carlos Slim's move to consolidate his wireless and wireline holdings inched one more step toward reality as America Movil (NasdaqGS: AMOV) completed its tender offers for Telmex Internacional (NYSE: TII) and Carso Global Telecom.
When the offers are completed, America Movil will then own a 92.7 percent stake in Telmex Internacional and 99.4 percent of Carso Global Telecom. Although Slim already controlled all three service providers, he decided in January that the best course of action to fend of growing competition from the likes of emerging competitive forces such as Televisa.
Slim's stronghold of the Mexican telecom market may be facing a new force as a Televisa-led consortium that includes Telefonica and Megacable just won a joint lease for fiber lines from Mexico's state-run utility Comision Federal de Electricidad.
For more:
- Reuters has this article
Related articles:
America Movil begins acquisition process for Telmex, Carso Telecom
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Mexico regulator approves Slim's wireless/wireline consolidation plan
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