US EditionAmérica Móvil, Entel Mull Joint Bid for Telefónica in Chile - LatinFinance
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9 Articles
The National Telecommunications Company (Entel) has submitted, together with América Móvil, a non-binding offer for Telefónica's business in Chile.
Entel admitted that it is studying and analyzing the possible submission of a binding offer for the acquisition of “certain assets” of Telefónica’s business in Chile. In an essential fact signed by the operator’s general manager, Antonio Büchi, the company specified that this evaluation has been carried out in conjunction with América Móvil, which operates in the country through ClaroVTR.
América Móvil, the telecommunications company established by Carlos Slim, the richest man in Mexico, reached an agreement with Chilean Entel, to explore a potential offer by Telefónica Chile. The non-binding agreement will allow the two companies to decide to present individually or jointly for Telefónica's assets, which operates under the Movistar brand, in the South American country, said América Móvil in a statement distributed on the Mexican…
Entel analyzes the presentation of a joint offer with América Móvil for the assets of Telefónica Chile. This is confirmed by the company in an essential fact sent to the Commission for the Financial Market (CMF), in which it details that a non-binding offer has already been submitted and it is analyzed to take another step after the period of review of strategic information of its competitor.
"For which it is still necessary to carry out an extensive analysis of TEF's information in order to properly assess the assets, understand the risks of the business, and define and reach the necessary agreements with América Móvil to determine the assets or lines of business that, in short, would be acquired by each company," stated ENTEL by means of an essential fact issued yesterday.
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