Motorola, Telefonica reach definitive agreement.

RCR Wireless News, October, 2000

SCHAUMBURG, Ill.--Motorola said it reached a definitive agreement to sell its four cellular companies in northern Mexico to Telefonica Moviles for $1.79 billion. The agreement was first announced earlier this month. With the acquisition, Telefonica gains assets in the one large Latin American market where it currently does not have a presence.

Although the acquisition does not give Telefonica nationwide coverage or access to the country's largest market, Mexico City, it adds to the Spanish company's large Latin American portfolio. The acquisition includes Motorola's shares in the four northern wireless carriers under the Protel name. The carriers are Baja Celular, Cedetel, Movitel and Norcel with about 1.4 million subscriber combined. Motorola owns...

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