Iusacell denies deal with Telefonica

Billionaire Ricardo Salinas said he is not willing to sell his 50 percent stake in Mexican wireless carrier Grupo Iusacell even though Telefonica wants it.

Telefonica, the second-largest mobile-phone company in Mexico, “wishes to buy Grupo Salinas’s stake in Iusacell. It is not for sale,” Salinas said.

Telefonica said earlier yesterday in a filing that it’s in ongoing talks for a deal in Mexico, though “no agreement has been reached.”


Source: Businessweek