Banco Azteca to buy out Iusacell minority shareholders

23 Apr 2010

Mexican mobile network operator Iusacell has revealed that local finanicial institution Banco Azteca is preparing to launch a tender for the 6.1% of shares in the cellco that are currently held by minority shareholders. According to Dow Jones Newswires, a filing made by Iusacell to the Mexican stock exchange notes that the bank will offer MXN49.05 (USD4.03) per share for all of the shares it does not hold, with the total value of the deal expected to be around MXN371.8 million. The tender officially commenced on 21 April and will run until 18 May.

Mexico, Iusacell (inc. Unefon)