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Mexico/EU: America Movil mogul pursues top telco

 |  May 4, 2014

Carlos Slim, the world’s second-richest man and owner of Mexico’s top wireless operator America Movil, is reportedly slated to acquire Bulgaria’s largest telco Mtel.

Slim, who also owns Carso Global Telecom, has already reportedly filed a merger request with Bulgaria’s competition regulator to acquire Mtel parent company Telekom Austria.

The company operates within Bulgaria, Slovenia, Serbia, Austria, Croatia and other territories; reports say competition authorities will need to approve of the acquisition in all of these locations. Austria has already reportedly given the green light for the deal.

The transaction would overrun Austria as the majority stakeholder in the company; Slim currently holds a 21 percent stake in the company.

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