Carlos Slim reportedly paid a recent visit to India to explore potential tie-ups between America Movil and local businesses with telecoms assets.
The telecoms tycoon – the world’s second-richest man – met with Venugopal Dhoot, the chairman of…
Carlos Slim reportedly paid a recent visit to India to explore potential tie-ups between America Movil and local businesses with telecoms assets.
The telecoms tycoon – the world’s second-richest man – met with Venugopal Dhoot, the chairman of conglomerate Videocon, which has a telecoms unit, and executives from other mobile operators during his low-key visit, the Economic Times reported.
Slim expressed optimism about growth opportunities in the Indian telecoms sector, one source was cited saying.
An America Movil spokesperson said: “We do not have any comments at this time on Mr Slim’s visit to India.”
A spokesperson for Videocon, India’s ninth-largest mobile operator, was quoted saying that the company is in talks with some “large international telcos looking to India for growth”. He declined to comment on the rumoured meeting with Slim.
Slim also met with India’s largest mobile operator Bharti Airtel and a Mumbai-based telco, according to the report.
Airtel was not immediately available for comment.
America Movil is currently assessing ways to reduce its market share in its home market of Mexico as required by new regulations designed to bolster competition. The company has already approved the spinoff of its tower unit, Telecites.
In Europe, America Movil has a controlling stake in Telekom Austria and about a 21% holding in Dutch telco KPN.
Earlier this month, Indian media reported that Norway’s Telenor was in talks to acquire a majority stake in Videocon Telecom, although an Rs5bn fee it owes to the government could prove an obstacle.
Meanwhile, reports have emerged that Vodafone is considering an IPO of its Indian unit – the country’s second-largest mobile operator – which could raise up to US$4bn.
