Mexican tycoon Carlos Slim, the world's third-richest man, will buy three Latin American operations from U.S. carrier Verizon Communications for roughly $3.7 billion as he extends his grip on the telecommunications market across the region.
Verizon said on Monday it will sell its stakes in providers in Dominican Republic, Puerto Rico and Venezuela to Slim's America Movil and Telmex. The deal will be carried out in three separate transactions.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Joint Venture Will Accent Spanish
- Mexican Telecom Tycoon May Face Break-Up
- Carlos Slim: New Telecom Regulations — No Problem
- Cinema Electric Sends Shows to 50 Million Mobile Viewers
- Mexico's Baja Port to Make Big Splash
- Hollywood Waiting as Wireless Carriers Lag With New Features
- Carlos Slim Makes Move for KPN
- Who Is Backing Mobli?