Carlos Slim, the billionaire Mexican media and telecoms mogul, has made an offer through Embratel to buy the preferred stock he doesn’t already own in cableco Net Servicos. Embratel, the former Brazilian state-run phone company, now 98% owned by Slim’s…
Carlos Slim, the billionaire Mexican media and telecoms mogul, has made an offer through Embratel to buy the preferred stock he doesn’t already own in cableco Net Servicos. Embratel, the former Brazilian state-run phone company, now 98% owned by Slim’s Telmex, made a B$4.58bn (US$2.6bn) offer for the stock. Embratel already owns 21.2% of Net Servicos.
There has been speculation that Slim is planning the merger of his Brazilian assets in Embratel and Claro. The fixed-line telco Embratel would be combined with mobile unit Telecom Americas, which operates as Claro, the local unit of America Movil. Together, they would offer fixed-line, mobile, internet and TV. With the addition of Net Servicos, Slim would have a formidable one-stop-shop operating in South America’s largest market.
