Business Services Industry
Telefonica-Pegaso Talks Reportedly Still Alive.
Internet Securities, June, 2001
MEXICO CITY, Jun 6, 2001
Spanish-owned Telefonica Moviles (NYSE:TEM) remains in talks to acquire Mexican mobile carrier Pegaso, which is partly owned by U.S.-based Sprint Corp. (NYSE:PCS), despite recent media reports to the contrary, according to a report published Wednesday in Mexico City daily Reforma. Negotiations between the two companies are continuing and indications are that an acquisition agreement could be announced shortly, Reforma business columnist Alberto Aguilar reported. Pegaso is majority-owned by Mexican conglomerate Grupo Pegaso. Recent media reports have suggested that Telefonica will find it extremely difficult to acquire Pegaso because of a series of agreements between the company and Sprint, including an agreement that cedes Sprint...
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