Salinas Pliego sell Iusacell to ATYT
The purchase will be executed when the Salinas Group acquires all of the shares of Iusacell. EFE / FILE
- The US firm will foster competition in the Mexican economy
The mobile phone company will be bought for two thousand five hundred million dollars
NEW YORK, USA (07 / NOV / 2014) .- The US firm AT & T today announced it had reached an agreement with Grupo Salinas of Mexico to buy the mobile phone company Iusacell for two thousand five hundred million dollars, including debt Mexican firm.
The purchase will be executed when the Salinas Group, which currently has 50 percent of Iusacell, complete its previously announced acquisition of half the shares of the firm does not already own, said a statement released by AT & T.
The operation is the result of reforms implemented in Mexico by the government of Enrique Peña Nieto to encourage more competition in the economy and generate more investment, the US firm said in its statement.
The agreement was announced just after the close of the day on Wall Street. AT & T ended the session with a rise of 0.55 percent in their titles, amid broad gains in the stock market that led to a new record to the Dow Jones Industrial Average.
The decision to AT & T is known months after the US company withdrew completely from the Mexican consortium América Móvil, controlled by Carlos Slim and where the US company retained the 23.81 percent of the shares.
America Movil is the largest phone company in Latin America. Included among its subsidiaries to Telmex, the
The purchase will be executed when the Salinas Group, which currently has 50 percent of Iusacell, complete its previously announced acquisition of half the shares of the firm does not already own, said a statement released by AT & T.
The operation is the result of reforms implemented in Mexico by the government of Enrique Peña Nieto to encourage more competition in the economy and generate more investment, the US firm said in its statement.
The agreement was announced just after the close of the day on Wall Street. AT & T ended the session with a rise of 0.55 percent in their titles, amid broad gains in the stock market that led to a new record to the Dow Jones Industrial Average.
The decision to AT & T is known months after the US company withdrew completely from the Mexican consortium América Móvil, controlled by Carlos Slim and where the US company retained the 23.81 percent of the shares.
America Movil is the largest phone company in Latin America. Included among its subsidiaries to Telmex, the
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