Telmex to buy Argentine data services company

10 May 2004

Teléfonos de México (Telmex) has confirmed that it will buy an 80% stake in Argentine data services company Techtel for USD113.5 million. Telmex will acquire a 60% holding from its sister company América Móvil and a further 20% from Argentine group Techint, which will retain a 20% stake in Techtel. The deal also includes Argentine telco MetroRED, which Techtel recently agreed to purchase subject to regulatory approval. Between them, Telmex and Techtel own more than 4,300km of fibre optic cable covering ten of Argentina’s biggest cities.

Argentina, America Movil (AM), Techtel