NEW YORK-Verizon Communications Inc. agreed to sell its Caribbean and Latin American telecom operations to America Movil and a company jointly owned by America Movil and Telefonos de Mexico (Telmex).
Verizon is selling Verizon Dominica in the Dominican Republic, and also is selling its 52-percent interest in Telecomunicaciones de Puerto Rice (Puerto Rico Telephone) and its 28.5 percent stake in Compania Anonima Nacional Telefonos de Venezuela, or CANTV, Venezuela’s largest telecommunication company.
“Over the years, our investments in the Caribbean and Latin America have been a source of solid financial performance, but today they represent a small part of our revenue base that is less aligned with our core business focus and future growth,” said Verizon Chairman and Chief Operating Officer Ivan Seidenberg, who called the transactions “a natural step in the evolution of our growth.”
