América Móvil eyes India as potential market
América Móvil might be exploring investment opportunities in India, as hinted by a visit by chairman Carlos Slim to the Asian country to meet with the head of Videocon Telecom and other mobile operators.
Should any negotiations move forward, this would be América Móvil's first foray into Asia. Slim is looking for a partner in anticipation for business-friendly rules.
América Móvil had previously focused its attention on the European market, with a 21% stake in KPN and majority control of Telekom Austria.
The telecom has been facing tighter controls in Mexico, after the new telecom law requires it reduces its share of the market to less than 50%. The company, which currently holds 70% of the mobile market, has been trying to get rid of assets since it was slapped with preponderant status last year.
After trying unsuccessfully to sell part of its stocks, América Móvil took another asset-shedding strategy by spinning off part of its infrastructure into a tower rental company, Telesites, which is supposed to start operations in June.
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News in: ICT (Mexico)
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