Mexican businessman Carlos Slim is according to Brazilian news outlets planning to merge his Brazilian assets Embratel and Claro.
Slim is said to be mulling a merger of his Brazilian fixed line telco Embratel with his mobile unit Telecom Americas, known…
Mexican businessman Carlos Slim is according to Brazilian news outlets planning to merge his Brazilian assets Embratel and Claro.
Slim is said to be mulling a merger of his Brazilian fixed line telco Embratel with his mobile unit Telecom Americas, known as Claro, the local unit of America Movil. The merger could reportedly take place as soon as this summer. Neither telco has commented on the reports.
The merger would reportedly strengthen the unit, better positioning it against growing competition on the local market from Brazilian and European conglomerates.
Separately, it has elsewhere been reported that the Mexican businessman is considering an acquisition of a stake in Portuguese incumbent Portugal Telecom, against the backdrop of a possible hostile bid for the group by Telefonica.
Slim would reportedly accomplish this via a bid on BES’s 8% stake in Portugal Telecom, where Telefonica holds a 10% stake. Slim’s Brazilian units competes with Telefonica and Portugal Telecom’s joint owned Brazilian mobile operator Vivo, which Telefonica is trying to buy out partner Portugal Telecom.
