Iusacell receives USD20 million share offer

18 Jul 2003

Fintech Advisory, a shareholder in Mexico’s third largest mobile operator Iusacell, has offered a sum of USD20 million to parent companies Vodafone Group and Verizon Communications for their joint 73.9% share in the cellco. The two international operators are looking to exit the Mexican market, claiming it is virtually impossible to make a profit in the country as regulators favour former state monopoly Telefonos de Mexico. Analysts expect them to accept the offer.