Mexico’s America Movil denies report about potential acquisition of Argentine telecoms firm Arsat

Mexican Telecom Company Denies Acquisition Talks with Argentina’s Arsat

America Movil, the Mexican telecommunications company controlled by billionaire Carlos Slim, has denied reports suggesting it is in discussions with Argentine President-elect Javier Milei’s team to purchase Argentina’s state-owned telecoms company Arsat. Arturo Elias, Slim’s spokesman and son-in-law, dismissed the media report, labeling it as false.

Details of the Alleged Acquisition Talks

According to sources close to the matter, the website La Politica Online claimed that the plans to sell Arsat are at an advanced stage. The report also indicated that a member of Milei’s transition team recently engaged in discussions with executives from America Movil’s Argentine unit, Claro. It was further mentioned that the potential value of Arsat was discussed during the talks, with a figure of around $930 million mentioned, although it was not specified who proposed this valuation.

Response from the Argentine President-Elect’s Team

A spokesperson for Milei’s transition team did not provide an immediate comment in response to the reports. It is worth noting that the incoming Argentine president has expressed intentions to revitalize the country’s economy and explore the privatization of state-owned assets, although the feasibility of these plans remains uncertain.

The original article exceeded 350 words, so it has been condensed while maintaining its essence.