America Movil looking to divest Telesites stake - report

Nieuws Algemeen Mexico 29 MAY 2017
America Movil looking to divest Telesites stake - report

America Movil is preparing to sell a minority stake in its tower unit Telesites, according to unnamed sources cited by Reuters. The company is negotiating with private equity firms, sovereign wealth funds and infrastructure funds about selling the stake without giving up control of Telesites, said the sources. Telesites has been unable to attract many tenants to the towers besides America Movil and its mobile unit Telcel since its spin-off in December 2015, said the report, adding that Telesites has a market capitalisation of MXN 38.52 billion.

America Movil may be hoping to follow the example of Telefonica, which sold a 40 percent stake in its tower subsidiary Telxius to private equity firm KKR for EUR 1.275 billion earlier this year.

Categories:

Algemeen

Companies:

America Movil,  Telcel,  Telesites

Countries:

Mexico

Tags:

Network equipment, Wholesale, M&A buyouts & divestments

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