Verizon moves to distance itself from América Móvil deal

22 October 2014 | Kavit Majithia


US carrier Verizon has distanced itself from rumours that it is interested in acquiring América Móvil assets in Mexico.

AT&T has already signalled that it could make a play in Mexico, and several global companies have also been rumoured to be interested in acquiring a chunk of América Móvil assets that are on sale as a result of reforms in the market.

Verizon’s CFO told the Wall Street Journal yesterday that it has no interest in acquiring the assets.

Carlos Slim-owned América Móvil announced in July it would sell its assets in the country, as regulators attempt to curb the company’s dominance in the Mexican telecoms market.

The assets are seen as attractive for a number of global players, given the country’s commitment to opening up the market to new players.