Mexican conglomerate Grupo Salinas has announced that its chairman, Ricardo B Salinas, has struck a deal with partner Grupo Televisa to buy the 50% stake in Grupo Iusacell that his company does not already own, thus giving him full control of the company. The deal has been valued at USD717 million, and is subject to the authorisation of the Instituto Federal de Telecomunicaciones (Ifetel) and the opinion of the Secretaría de Comunicaciones y Transportes (SCT).
As previously reported by TeleGeography’s CommsUpdate, in July this year Salinas reacted angrily to media reports that Spanish telecoms giant Telefonica was preparing a takeover bid for Iusacell, and it appears that the unsolicited approach prompted Salinas to work towards achieving full control of the mobile unit.
According to TeleGeography’s GlobalComms Database, Iusacell is currently 100% owned by GSF Telecom Holdings, a 50/50 joint venture between Grupo Salinas and Grupo Televisa. Although the current shareholder structure has been in place since June 2012, the cellco has had a number of international owners over the years, including UK-based Vodafone Group and US-based Verizon Communications.