America Movil, Telefonica Explore Joint Bid for WOM Assets
By Anthony Harrup
MEXICO CITY--Mexican telecommunications company America Movil and Spain's Telefonica signed a non-binding agreement to explore a possible joint participation in the sale of assets of Chilean telecommunications operator WOM, which is in Chapter 11 restructuring.
The two companies, which compete across Latin America, said in a release Monday they may decide to make an offer for assets of WOM and its Chilean affiliates in accordance with the Chapter 11 process. An eventual transaction could have "potential benefits for its customers and Chilean consumers in general," they said.
WOM, which is owned by private equity fund Novator Partners, filed for Chapter 11 in a Delaware bankruptcy court in April.
In 2022, America Movil, Telefonica and Telecom Italia bought mobile assets of Brazil's bankrupt Oi Group after making a joint bid.
Write to Anthony Harrup at anthony.harrup@wsj.com
(END) Dow Jones Newswires
September 03, 2024 08:43 ET (12:43 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks
United States