Telefonica in exclusive talks to sell its Mexican unit to Beyond ONE
LONDON: Spanish telecom giant Telefonica is in exclusive talks to sell its Mexican business to Beyond ONE, the owner of Virgin Mobile Mexico, three sources with knowledge of the negotiations said.
The Spanish company has accelerated plans to reduce its exposure in Spanish-speaking Latin America, where profitability is lower than the cost of capital, and to focus instead on four main markets under new CEO Marc Murtra.
