Seeing increased competition in the Mexican telecom market, telecom billionaire Carlos Slim is plunking down $21 billion to effectively consolidate his Latin American telecom holdings.
With this plan, Slim's wireless operator America Movil is offering 2.04 of its shares for every share of Carso Global Telecom, the holding company for wireline service providers Telmex and Telmex Internacional.
The goal of this proposed deal is clear: establish a new powerhouse wireline/wireless service provider to compete with the growing presence of strong rivals such as Spain's Telefonica.
"This is a company that is going to offer triple- and quadruple-play services in 18 countries," Slim's spokesman Arturo Elias Ayub said in a Reuters article.
- Reuters has this article
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