Mexican telco America Movil has commenced the process to take over Telmex Internacional as part of its plans to merge its mobile and fixed-line businesses in the South American region.
Under the US$24.4bn takeover plan, America Movil will swap shares for…
Mexican telco America Movil has commenced the process to take over Telmex Internacional as part of its plans to merge its mobile and fixed-line businesses in the South American region.
Under the US$24.4bn takeover plan, America Movil will swap shares for the holding firm Carso Global Telecom and either swap shares or pay for shares in Telmex Internacional.
Both Carso Global Telecom and Telmex Internacional, like America Movil, are controlled by Mexican businessman Carlos Slim.
The offer is scheduled to close on June 10, and sees America Movil offering 2.0474 of its shares for every Carso Global share. Carso Global controls 60.7% of Telmex Internacional. America Movil will offer MXP11.66 in cash or 0.373 of its own shares in return for each of Telmex Internacional shares.
Both are set to be delisted following the offer period.