Mexico: Verizon, AT&T announce stance on America Movil divestitures

As speculation mounts over which companies will bid for assets being sold by America Movil to appease competition concerns, reports say Verizon Communications and AT&T have both revealed their stance on the matter.

Verizon told reporters that the company has “no interest” in any acquisitions from America Movil, especially since its recent takeover of Vodafone’s 45 percent of Verizon Wireless, bought for $130 billion.

AT&T, however, is reportedly interested in a purchase, but reports say the company is likely to face antitrust hurdles with a deal. The company recently agreed o sell its 8.27 percent stake in America Movil for $5.57 billion to appease concerns over its pending takeover of DirecTV.

Mexico’s Federal Telecommunications Institute said that it would have to study any deal reached between America Movil and AT&T.

America Movil, Mexico’s dominant telecom, has reportedly contacted AT&T and Sprint for possible bids. The Mexican firm is expecting to make up to $17.5 billion from the sales, which were catalyzed as officials look to take on the company’s market dominance and reduce it to below 50 percent.

Full content: Fierce Wireless

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