América Móvil withdraws from Spanish spectrum auction

16 May 2005

Mexican mobile holding company América Móvil has pulled out of the auction for mobile spectrum in Spain, but reiterated its desire to enter the market by purchasing bandwidth from other operators and setting itself up as a virtual operator instead. Carlos Slim’s mobile company expressed an interest in acquiring one of the three 15-year GSM licences on offer on 4 May, but has apparently decided that the market is not strong enough to support a fourth operator. The government is set to announce the winners of the auction before 20 June.

Mexico, Spain, America Movil (AM)