UPDATE: Iusacell not for sale

31 July 2014 |


Mexican billionaire Ricardo Salinas has said that he has no plans to sell his stake in mobile operator Iusacell.

Yesterday, Spain’s Telefónica confirmed it was in talks over an acquisition in Mexico, thought widely to be Iusacell, but Salinas – whose holding company, Grupo Salinas, holds a stake in the firm – has said his share is not for sale.

On Twitter, the CEO said: “Telefónica says it wants to buy Grupo Salinas’ stake in Iusacell. It’s not for sale.”

Grupo Salinas holds a 50% stake in Iusacell – with Televisa holding the remaining 50% – and Salinas is reportedly “very optimistic” about the future of Iusacell, given the recent telecoms reform in Mexico.

Salinas said that the new regulation provided “certainty and confidence” to enable the market to grow without a Telefónica deal.

Grupo Salinas also owns TV Azteca, the second-largest broadcaster in Mexico.