Business Services Industry
Telefonica Moviles-Pegaso Deal Seen Imminent.
Internet Securities, May, 2001
MEXICO CITY, May 24, 2001
Telefonica Moviles, a subsidiary of Spanish telecom giant Telefonica, is poised to announce it has acquired a majority stake in Mexican mobile carrier Pegaso, which will provide it with nationwide coverage of the country's rapidly growing mobile phone market, according to a report in Mexico City daily Reforma. Executives at Pegaso, currently majority-owned by Mexican magnate Alejandro Burillo, on Wednesday were putting the final touches to what likely will be a letter of intention providing for Telefonica Moviles to take a controlling stake in the company, Reforma business columnist Alberto Aguilar reported. Acquiring Pegaso will give the Spanish company the nationwide presence it is seeking in the Mexican mobile services market....
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