Investing
Mexico’s America Movil denies report it’s eyeing Argentine telecoms firm Arsat
© Reuters. FILE PHOTO: The logo of America Movil is pictured on the wall at a reception area in the company’s corporate offices, in Mexico City, Mexico January 25, 2022. REUTERS/Gustavo Graf/File Photo
MEXICO CITY (Reuters) – America Movil (NYSE:), the Mexican telecommunications company controlled by billionaire Carlos Slim, on Thursday denied a report it is in talks with Argentine President-elect Javier Milei’s team to buy Argentina’s state telecoms company Arsat.
“It’s all false,” Arturo Elias, Slim’s spokesman and son-in-law, told Reuters when asked about the media report.
Citing sources close to the matter, website La Politica Online said plans to sell Arsat are very advanced, and reported that a member of Milei’s transition team on Tuesday held talks with executives from America Movil’s Argentine unit, Claro.
La Politica Online said the value of Arsat was discussed during the talks with a figure of around $930 million mentioned. It did not state who had come up with the price tag.
A spokesperson for Milei’s transition team did not immediately respond to a request for comment.
The incoming Argentine president has vowed to revive the country’s battered economy and look at privatizing state-owned assets, though it is unclear how easy that will be.
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