America Movil dismisses Oi speculation

America Movil dimisses Oi speculation

America Movil has shot down reports that it is talks with Telefonica and Telecom Italia over a joint purchase of Oi’s mobile assets.

Speaking to Reuters, America Movil’s director of strategic alliances Arturo Elias Ayub said that “absolutely nothing has been negotiated” with Telefonica and Telecom Italia, although he did not dismiss the possibility of such a deal in the future.

The Spanish newspaper Expansion reported earlier this week that the three operators were interested in acquiring the entire Brazilian mobile unit and then splitting its assets between them. However, this would reduce the total of major players in Brazil to three and so would likely face opposition from regulator Anatel.

Oi filed for bankruptcy protection in 2016 after being unable to restructure its BRL65.4 billion ($15.9 billion) debt. Since then a number of possibilities for a resolution have arisen, including an acquisition.

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