MEXICO CITY-Telefonos de Mexico, Mexico’s largest telecom provider, signed a letter of intent to buy 60 percent of Consorcio Ecuatoriano de Telecomunicaciones, the leading wireless service provider in Ecuador, Reuters reported. Financial details were not released.
The move follows Telmex’s announcement last year that it plans to expand its business outside Mexico. The company currently holds stakes in Brazilian wireless provider Algar Telecom Leste and Cellular Communications of Puerto Rico.
Telmex also is looking to acquire a stake in Hondutel, the state-owned telecom company in Honduras. The government is slated to sell 51 percent of Hondutel in May.
