The sale of the unit was made to Melisa Acquisition LLC, which is a group made up of OXIO Inc. and Newfoundland Capital Management, and aligns with Telefonica’s broader strategy of exiting the region.
| less than a minute read
Telefonica sells Mexico unit to group for $450m
A telecommunications reform in Mexico in 2014 had lifted international companies’ hopes that they could loosen Slim’s grip on his home market. But both AT&T and Telefonica have for years complained that the measures imposed by the telecom regulator were not enough to improve competition.
