May 10, 2016 / 2:05 AM / in 2 years

America Movil's Peruvian unit agrees to buy Olo Del Peru and TVS Wireless

MEXICO CITY (Reuters) - America Movil, the Mexican telecoms giant controlled by billionaire Carlos Slim, said on Monday its Peruvian subsidiary had agreed to buy Olo Del Peru S.A.C. and TVS Wireless S.A.C., two telecommunications operators in Peru.

The America Movil logo is seen on the wall of the reception area in the company's corporate offices in Mexico City August 12, 2015. REUTERS/Henry Romero

In a statement to the Mexican bourse, America Movil said its local subsidiary, America Movil Peru S.A.C., had agreed a share deal with Metsanco Limited and its affiliates to buy the two companies, which hold 2.5 GHz spectrum.

The deal is subject to certain conditions being met, America Movil added, without disclosing financial details.

In March, America Movil’s Chief Financial Officer Carlos Garcia Moreno told Reuters the company, which is grappling with tough regulation at home and deepening recession in Brazil, had no acquisitions on the horizon.

Reporting by Gabriel Stargardter; Editing by Sandra Maler

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