Telefonica on Thursday said it is open to mergers, acquisitions and deals to share networks in Mexico, where it lags far behind former monopoly and arch-rival America Movil
The company, one of Europe's most heavily indebted telecoms operators, this month said it had already met its target to cut debt below 47 billion euros ($62.9 billion) by year-end and had now regained financial firepower.
It has scaled down its operations by selling non-core assets in Europe and Latin America and now aims to focus on developing its business in key markets such as Spain, Germany, Britain, Brazil and Mexico.
"We are very open minded to consolidation in Mexico," said Telefonica Chief Operating Officer Jose Maria Alvarez-Pallete at the Morgan Stanley annual technology, media and telecoms conference in Barcelona.
Telefonica currently controls 20 percent of the Mexican mobile market and has been exploring a series of options to challenge America Movil, owned by the world's richest man Carlos Slim, and which has a market share of 70 percent.
It signed roaming agreements with smaller competitors Nextel and Iusacell last year. It is also pushing on with a new strategy to overhaul its operations in Mexico in the hope it will cut its reliance on Brazil.
Source: Reuters
