América Móvil to complete Brazilian merger by December
17 October 2014 | Kavit Majithia
Mexico’s América Móvil is planning to complete the merger of its Brazilian businesses by early December.
According to local sources, its Brazilian mobile subsidiary Claro will merge with cable TV operator Net Servicos de Comunicacao and long-distance provider Embratel.
Carlos Zenteno, Claro CEO, reportedly confirmed the plans to Brazilian financial publication Valor Economico.
Movil is presently assessing its options in its home market of Mexico after reforms in the country were implemented, designed to reduce the company’s power.
The plan to merge its entities in Brazil was approved by Brazilian regulator Anatel in July.
Claro won Brazil’s first licence in its recent 4G auction, after a successful bid of $795 million.
8h | Natalie Bannerman
9h | Natalie Bannerman
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10h | Natalie Bannerman