Telefonica's Mexico unit not in talks to buy America Movil assets
MEXICO CITY Jan 14 (Reuters) - The Mexican unit of Spanish telecoms company Telefonica is not in talks to buy assets belonging to tycoon Carlos Slim's America Movil, Telefonica Mexico's chairman Francisco Gil Diaz told Reuters on Wednesday.
Last summer, America Movil, which dominates the Mexican phone market, said it would sell assets to reduce its market share in Mexico and avoid sweeping new anti-trust legislation passed by the government.
Gil Diaz said there were no discussions between Telefonica Mexico, a distant, second-place cellphone rival, and America Movil to buy the company's assets, but that there might be between Slim's firm and Telefonica's Spanish headquarters.
"I think that right now, that's not something that's being worked on," he said in an interview with Reuters.
In 2014, Mexico implemented reforms to shake up its telecom and broadcast market by weakening the dominance of broadcaster Televisa and America Movil. (Reporting by Tomas Sarmiento; Additional reporting by Chrissie Murray and Noe Torres)
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