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Brazil: Mexico’s Slim buys Nextel Brasil for US$905M

 |  March 18, 2019

Slim’s America Movil SAB agreed to buy Nextel Telecomunicacoes Ltda in a deal valued at $905 million less net debt, strengthening its mobile network and boosting its holdings of wireless spectrum in South America’s largest market.

The Mexican company specified that the closing of the acquisition is subject to certain conditions, including the obtaining of regulatory authorizations by the Agência Nacional de Telecomunicações – Anatel and the Conselho Administrativo de Defesa Econômica – CADE.

With the acquisition of Nextel Brasil, América Móvil, which was already operating in the South America through its subsidiary Claro, will consolidate its position “as one of the main providers of telecommunications services in Brazil,” the company said.

Full Content: Milenio

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