Mexico’s America Movil eyes acquisition of Brazilian rival Oi: Valor

09/21/16 Reuters

America Movil SAB (AMXL.MX) is interested in acquiring some or all of the operations run by struggling Brazilian rival Oi SA (OIBR3.SA), the chief executive of the Mexican telecom giant said in a newspaper interview published on Wednesday.

Brazilian paper Valor Economico reported that Daniel Hajj, CEO of Mexican billionaire Carlos Slim’s telecom empire, said he was eyeing an acquisition of Oi operations whether or not the company is split up in the midst of an in-court restructuring.

“We are open to looking at anything,” Hajj said in the Valor report. “I am very interested in participating in the (market)consolidation in Brazil, but I don’t know how it will happen.”

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