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General

America Movil says Oi crisis hinders Brazilian consolidation

Friday 1 July 2016 | 15:22 CET | News
The CEO of America Movil in Brazil, Jose Felix, said that the process of judicial recovery at rival Oi does not encourage consolidation in the telecommunications industry in the country, reports Reuters. The Mexican company, which operates in Brazil under the brands Claro, Net and Embratel, considers the legal uncertainties, the high taxes that affect the industry plus the need for significant investment, make the sector unattractive to new investors. Felix pointed out that America Movil has invested BRL 30 billion over the past three years in the country.

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Categories: General
Companies: America Movil / Claro / Embratel / Oi
Countries: Brazil
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