Telefonica Moviles has reached an
According to the businessman Alejandro Burillo to acquire 8 percent of the capital that was missing in its Mexican subsidiary for 177 million euros, the Spanish operator reported today in a statement
The transaction will be structured through an exchange of shares of Telefonica Moviles Mexico for shares of Telefonica, which will enable the Mexican entrepreneur become a shareholder of the parent group's Spanish.
Burillo, president of the group of the same name, will remain a director of mobile phones and will remain linked to the Mexican subsidiary as a strategic advisor.
The Spanish mobile operator noted that this acquisition allows you to increase their participation in a company with a "high growth potential and with a significant cash generation capacity in the medium term."
Telefonica Moviles Mexico recorded in the first nine months of the year a turnover of 563 million euros, an increase of 21.4 percent.
Track: efe.es
