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Telefonica seeks to grow in Mexico

Wednesday, July 30, 2014

Spanish telecoms firm Telefónica said it is seeking to consolidate its business in Mexico.

The company confirmed it is in talks for a $4-billion merger with Iusacell.

Telefónica has been looking for ways to increase its share of the Mexican telecoms market, as it currently has 19 percent, compared with Carlos Slim's América Móvil with 70 percent.

Source (in Spanish): Reuters