Telefónica in talks to acquire Iusacell

Telefónica in talks to acquire Iusacell

Spain-based Telefónica is reportedly in talks to acquire Mexican operator Iusacell.

Local media reports suggest Telefónica is looking to acquire Mexico’s third-largest mobile company and is in talks with the company’s joint-owners, Grupo Televisa and Grupo Salinas.

All parties have refused to comment on the situation, but reports state that Telefónica has already hired advisors for the acquisition.

Mexico’s new telecoms reforms have yet to be finalised, which could prove a stumbling block for any deal.

Telefónica’s president in Mexico Francisco Gil Diaz is reported to have said the company “always has deals on the radar”, at an event earlier this week.

The company signed a roaming agreement with Nextel in Brazil and Mexico, as part of an expansion plan to work with MVNOs in the countries.

It has a 20% share of Mexico’s cellphone market, behind America Movil which has a 70% market share.

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