Unconfirmed – Telmex to buy Verizon’s stakes in CANTV and two other telcos

6 Mar 2006

Mexican telecoms group Telmex is set to purchase stakes in three Latin American operators currently held by US telco Verizon, according to daily newspaper Reforma. The proposed deal, worth an estimated USD4 million, would see Telmex purchase Verizon’s 28.6% stake in Venezuelan incumbent telco CANTV, a 52% stake in Puerto Rico Telephone Company and 100% of Dominican Republic-based Verizon Dominicana (formerly Codetel).