America Movil seeks AT&T, Softbank bids for Mexican assets: Bloomberg

Reuters News
Posted: Sep 15, 2014 2:39 PM

(Reuters) - Mexican telecom company America Movil has reached out to AT&T Inc and Japan's SoftBank Corp as it looks to sell assets along the east coast of Mexico that could fetch as much as $17.5 billion, Bloomberg reported, citing people with knowledge of the matter.

The company has also approached BCE Inc's Bell Canada and China Mobile Ltd, the report cited a source as saying.

America Movil, owned by billionaire Carlos Slim, is preparing to divest assets in an unprecedented step to cut its market share in Mexican telecoms below 50 percent and escape the burden of tougher regulations.

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America Movil, AT&T and Softbank could not immediately be reached for comment.

(Reporting by Anya George Tharakan in Bangalore)