In a telecoms market not noted for competition, Mexico’s MVS Communicaciones’ announcement of plans to invest $1bn in an LTE network as part of a consortium that includes Clearwire and Intel should, in theory, shake things up. The consortium would sell access to its network to a variety of local players, including its rivals, opening up a market that has been dominated by billionaire Carlos Slim’s America Movil.
Mirror, mirror on the wall, who’s the richest of them all?
According to the Bloomberg Billionaires Index released this week, Microsoft founder Bill Gates has just edged past Mexican mogul Carlos Slim, who’s lost more than a few pounds since Mexico’s government passed a bill that could quash America Movil’s market dominance.
KPN has told its shareholders not to accept the unsolicited $3.25bn bid for shares from Mexican operator group América Móvil, claiming that the offer is too low. The operator labelled the bid, which values each share at €8, as “opportunistic” and said that it does not reflect full potential value of the firm.
Latin American operator, America Movil, has launched its $21.8bn bid for control of three other regional telecoms firms. It sounds like big money but given that America Movil’s top man is none other than Carlos Slim Helu, the richest man in the world, such moves are to be expected.
Can you remember what you were doing ten years ago this week? Were you sitting in a hot tub sipping champagne, surrounded by beautiful people? Were you kitting out your office with high end leather chairs, beer fridges and an expensive games room? Were you dreaming up a talking sock puppet mascot? Were you taking out an enormous mortgage? Were you hatching plans for a new dotcom launch that would make you a millionaire and enable all of the above?