[update]
Verizon Communications plans to sell its 39.4 percent equity stake in Grupo Iusacell into the tender offer to be launched by Movil Access, a Mexican company, following approval of the offer by the Mexican securities commission. Also Vodafone Americas, a wholly owned subsidiary, has agreed to sell its 34.5% stake in GIusacell to Movil Access.
This transaction gives Iusacell the best chance to move forward as a new company under the control of an experienced local entrepreneur and wireless telecom investor. Vodafone International agreed subject to conditions, to sell its indirect 20.76% interest in RPG Cellular Services Ltd, a regional operator in Chennai, India. The transaction is expected to complete in early July. The value of both transactions represents less than 1% of the net assets of Vodafone.
