In a move designed to put Telefonica in a better position to compete with Carlos Slim’s America Movil, the Spanish group is reportedly in talks regarding a possible tie-up with Mexico’s Grupo Iusacell.
The potential deal could see Telefonica combine its operations in Mexico with Iusacell although there has been no decision as yet as to which side would control the combined mobile phone carrier, Bloomberg reported, citing sources familiar with the matter.
Iusacell – which announced a network sharing agreement with Telefonica back in 2012 – is owned by Grupo Televisa and billionaire Ricardo Salinas.
Banco Bilbao Vizcaya Argentaria and Lazard are understood to be advising Telefonica.
