Iusacell And Unefon Prepare Merger

Iusacell And Unefon Prepare Merger

M&A

Mexican mobile phone operators Iusacell and Unefon, both owned by local businessman Ricardo Salinas Pliego, are preparing to merge. The move aims to knock Spanish-owned Telefónica Movistar off the number two spot and will compete with the country's largest operator, América Móvil, owned by Carlos Slim. The move to merge, which had been flagged as far back as three years ago, was prompted by the near-completion of Iusacell's debt restructuring and Salinas' move to take control of Unefon by buying

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