Wireless warriors.(Panorama)(Telefonica Moviles S.A.)(BellSouth Cellular Corp.)(Brief Article)

Latin America's no.1 wireless company America Movil can expect tough competition from Spain's Telefonica Moviles in the coming months. The wireless arm of Spanish telecommunications company Telefonica paid US$5.85 billion to acquire all the Latin American assets of the United States' BellSouth. The Spanish wireless company will also take on all of BellSouth's outstanding debt. Through the acquisition, Telefonica Moviles increases its Latin American managed customer base to 41 million In 14 countries across the region. The company says integration costs could reach $200 million but that the merger will save $1 billion through 2008.

Print Get the Mag Weekly Updates