With the consolidation of his Mexican telecom assets near completion, Mexican billionaire Carlos Slim is turning his attention to his Brazilian telecom assets.
According to a Reuters article citing a report in the Folha de S.Paulo newspaper, Slim wants to merge his Brazil-based wireline service provider company Embratel with Claro, the Brazilian unit of America Movil (NasdaqGS: AMOV) to save costs.
But it appears that much like the consolidation of his Mexican telecom assets, Slim wants to reposition his Brazilian assets to more effectively deal with emerging completion from France's Vivendi, Spain's Telefonica (NYSE: TEF) and Portugal Telecom. Vivendi emerged as one of the newest competitors in Brazil with its acquisition of wireline operator GVT, while Telefonica and Portugal Telecom jointly control Vivo.
For more:
- Reuters has this article
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