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Telecommunications firms America Movil and Telefonica signed a non-binding agreement to jointly explore their potential participation in the sale process of the assets of Wom and their affiliates.
The firm is in the process of reorganization after filing for Chapter 11 bankruptcy in the United States of America for the district of Delaware.
The parties may decide at any time not submit an offer and, if made, any offer and potential transaction will be subject to the bidding procedures and regulatory rules and authorizations required under the WOM reorganization procedure and under applicable sector and competition rules, including prior authorization from the National Economic Prosecutor’s Office of Chile, signed by both companies.
“The interest of both companies in jointly exploring their potential participation in the sale process of the assets of WOM and its affiliates in Chile, lies in the potential benefits that the transaction could generate for its clients and Chilean consumers in general, given that the sustainability of the telecommunications sector would be reinforced by increasing the capacity to continue investing and competing in high speed networks and coverage, key to the digitalization of the country,” explained the firms telecom.
América Móvil is owned by Mexican tycoon Carlos Slim, one of the richest men in Mexico.
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2024-09-06 16:41:36