Far from worrying about the entrance of US giant AT&T onto the Mexican market, Spain’s Telefónica is considering an IPO of its local subsidiary.
Telefónica (BMAD:TEF) will remain in Mexico and may consider an IPO, CFO Ángel Vilá has told investors at the Morgan Stanley TMT conference in Barcelona.
He said the “growing business” was now benefiting from the Spanish company’s heavy investments in the country, making it an “attractive” candidate for listing, according to comments cited by Reuters.
Earlier this year, US giant AT&T entered the market via the acquisitions of Iusacell and Nextel. Telefonica has a reported 20% share of the market, while America Movil has 70%.
Local telecoms regulator IFT has been taking steps to address the dominance of the Carlos Slim-owned operator.
