Latin American Economy & Business - September 2016 (ISSN 1741-7430)

América Móvil eyes Oi: Mexico-based telecoms giant América Móvil is considering a takeover bid for all or parts of Oi, its struggling competitor in Brazil. Oil filed for bankruptcy in June, with debts of BRL65.4bn (US$20bn). Daniel Hajj, chief executive at América Móvil, the company controlled by Mexican entrepreneur Carlos Slim, told the Brazilian business daily Valor, “we are open to considering all options…I am very interested in Brazilian market consolidation, but I don’t know how it will happen.”