Telefonica Said to Seek Partner in Mexico to Challenge Slim

Bloomberg, 11/13/2013

carlos slimTelefonica SA  has approached potential acquisition targets and partners in Mexico, where it’s seeking to challenge billionaire Carlos Slim’s dominance, according to three people familiar with the matter.

Spain’s biggest telecommunications group has held discussions with companies including Grupo Iusacell SA, a smaller rival co-owned by Ricardo Salinas and pay-TV provider Grupo Televisa SAB, said the people, asking not to be named because the deliberations are private. Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA are working with Madrid-based Telefonica, said another person familiar with the matter.

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