JACKSON, Miss.-Mtel Latin America Inc., a subsidiary of Mobile Telecommunication Technologies Corp., signed an agreement to acquire all outstanding shares of the Argentina-based paging company RadioMensaje S.A.
The agreement lists the purchase price at $16 million in cash and another $16 million in debt securities, to be funded directly by Mtel LatAm and its subsidiary, Mtel Argentina S.A., without any backing by Mtel.
Mtel Argentina and RadioMensaje will combine operations, thereby creating the largest paging company in Argentina, totaling about 70,000 paging units.
The transaction must be completed by June 27, according to the agreement.
