Japan’s SoftBank sets sights on America Movil assets

Whatapp News

Japanese telecom and media group SoftBank Corp has set its sights on the wireless assets put up for sale by America Movil, the Wall Street Journal reported, citing people familiar with the matter.

SoftBank recently asked Sprint Corp Chief Executive Marcelo Claure to gather information on the assets that America Movil is planning to sell, sources told the paper.

Mexican billionaire Carlos Slim’s America Movil said in July it would spin off its telecoms towers and sell assets to reach a market share below the 50 percent threshold amid a regulatory crackdown in its home market, Mexico.

Sources told the Journal that Softbank was valuing the assets at around $10 billion, while Bank of America analysts have estimated the assets could be worth $15 billion.

Related news  2019 hajj: NAHCON approves N1.5m fare for Kwara pilgrims

Despite the involvement of Claure, any deal would be SoftBank’s and likely wouldn’t involve Sprint, the sources clarified to the paper.

An America Movil spokeswoman did not immediately respond to a request for comment. SoftBank was not immediately available for comment. (Reuters)

Whatapp News