Verizon Sheds Latin American Assets
Apr 3, 2006, 8:04 AM by (staff)
In a move to focus its operations on the U.S. market, Verizon today announced a set of deals to sell its Caribbean and Latin American telecom operations for about $3.7 billion. Verizon will sell its interests in providers in the Dominican Republic, Puerto Rico and Venezuela. Verizon will sell Verizon Dominicana and its a 52% interest in Telecomunicaciones de Puerto Rico Inc. to America Movil SA. An entity jointly owned by America Movil and Telefonos de Mexico SA has agreed to purchase Verizon's 28.5% interest in Nacional Telefonos de Venezuela, or CANTV.
AT&T to Divest America Movil Stake to Carlos Slim
AT&T plans to sell off its entire remaining stake in America Movil to Carlos Slim for about $5.6 billion. AT&T holds 8.3% of America Movil stock, but garners 24% of the company's voting rights.
Verizon to Sell Landline Biz to Frontier for $10 Billion
Verizon Communications today confirmed plans to sell part of its wireline telephone and internet business to Frontier Communications for $10 billion. The deal covers Verizon's consumer and business assets in California, Florida, and Texas.
Verizon Sees No More Big Spectrum Grabs In Its Future
Verizon today said it doesn't believe it will need to make any more large spectrum acquisitions following the results of the recent AWS-3 spectrum auction. Verizon netted 181 spectrum licenses at a cost of $10.4 billion.
AT&T Looking to Sell Assets for Cash
AT&T hopes to offset some of its debt by selling certain assets, reports Reuters. In particular, AT&T may offload several data centers worth about $2 billion, according to sources familiar with AT&T's plans.
MoviStar to own Verizon's Network in PR?
I'm really glad I'm not a Verizon customer now. I travel frequently between PR and the US and my Sprint PCS worked so so in PR, but my Cingular phone works like a charm.
They are NOT the same people.
Source: http://www.investor.reuters.com/GoTo.aspx?nss =www&ticker=AMX.N&.t=/business/buscompany/bus compfake/buscompdescr
Calling to-from Puerto Rico
I also travel to Puerto Rico on a regular basis. Now with my Americas Choice plan I do not incur long distance or roaming charges while in Puerto Rico. Will that still be the case after the sale is completed?