Carlos Slim has received authorisation from the Federal Competition Commission (CFC) to go ahead with a proposed merger of America Movil, Telmex and Telmex International.
The combination of the companies, all of which are controlled by Slim, would be…
Carlos Slim has received authorisation from the Federal Competition Commission (CFC) to go ahead with a proposed merger of America Movil, Telmex and Telmex International.
The combination of the companies, all of which are controlled by Slim, would be worth around US$21bn, and would see America Movil take a 59.4% stake in Telmex and a 60.7% stake in Telmex International.
America Movil expects to close the deal in Q2 2010 and will subsequently be in a stronger position to offer integrated voice, data and video services across Mexico and its other Latin American markets.
