Telefónica in talks over Mexican acquisition

Telefónica in talks over Mexican acquisition

Spanish operator Telefónica is discussing a potential acquisition in Mexico, thought to be Iusacell.

Telefónica was first rumoured to be looking at Iusacell in February this year and the operator reconfirmed its interest in Mexico to the Spanish stock market regulator today, but did not name or value the deal.

“Telefónica reports that there’s a negotiation process, and no related deal has been agreed upon,” the company said.

Earlier today a local Spanish news website, citing people close to the situation, said that Telefónica was preparing to buy Iusacell for between €2.5 and €3 billion.

As the third-largest mobile player in Mexico, Iusacell is an attractive option for Telefónica, which has been long been looking to secure its position in the market.

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