Telefónica eyes Mexican investments
Telefónica is open to mergers, acquisitions and network-sharing deals in Mexico, the company’s COO said at a conference in Barcelona, Spain yesterday.
The Spanish operator has been battling with debt this year and – according to José María Álvarez-Pallete, COO at Telefónica – the success of its debt-reduction strategy means the company has now recovered much of its financial losses.
“We are very open-minded to consolidation in Mexico,” Álvarez-Pallete said.
Telefónica is behind rival América Móvil in the Mexican market, and having regained its position in a number of European markets, the company is now looking to develop its business in other areas, including Brazil and Mexico.
“Consolidation might happen not just in terms of merging, but also roaming or network sharing,” said Álvarez-Pallete.
“We remain committed to the Mexican market – [it is] one of our top five. We are open to deals or consolidation, since we think it makes sense and the timing is right."
Telefónica owns 20% of the Mexican mobile market and signed roaming deals with Mexican firms Nextel and Iusacell last year.