AT&T Inc is ‘intrigued’ by the expansion opportunities presented by Latin America, and Mexico in particular, chief strategy officer John Stankey has admitted. According to Reuters, Stankey declined to comment on media reports linking AT&T to certain America Movil (AM) assets in Mexico, but conceded: ‘I think we would be asleep at the wheel [if we were not interested] and we are not historically known to do that … So yes, we are intrigued by it … and I think when you are in the M&A game, you learn that you can’t always force your timing. Sometimes timing has to come to you. And exactly how that is going to work out – who knows?’
As previously reported by TeleGeography’s CommsUpdate, AM owner Carlos Slim is ready to sell off parts of his Mexican telecoms business in an effort to cut his company’s market share across the sector below the 50% mark, thus avoiding regulations that apply only to dominant players, and cease being a ‘preponderant economic agent’.
Yesterday it was reported that AM had contacted four potential suitors – AT&T Inc, Softbank Corp of Japan, Bell Canada and China Mobile – with a view to selling Telmex and Telcel assets in a strip of states from north to south, along Mexico’s eastern coast. The package has been valued at USD20 billion.