MEXICO CITY-Continuing its buying spree, Mexico-based mobile operator America Movil said its $625 million offer to acquire Brazilian mobile operator BCP was accepted. Telemar Norte Leste has an option to acquire a stake of BCP.
The deal signals the complete exit of BellSouth Corp. from the operator.
The Brazilian operator has 1.7 million subscribers and operates in the metropolitan area of Sao Paulo.
In March, BellSouth sold its stake in BSE, also known as BCP Nordeste, another B-band operator with licenses in several northern states, to Telecom Americas, America Movil’s Brazilian unit. Telecom Americans plans to combine its Brazilian operations under the Claro brand.
BCP renegotiated its $1.3 billion in debt in April after being in default for more than a year.
In July, America Movil upped its stake in its Ecuadorian subsidiary and bought a controlling interest in Argentine operator CTI.
