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Latino Daily News

Saturday January 18, 2014

Carlos Slim’s America Movil Acquires Start Wireless Group

Carlos Slim’s America Movil Acquires Start Wireless Group

Photo: America Movil

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Mexican telecommunications giant America Movil said it has acquired a full stake in Start Wireless Group, commercially known as “Page Plus,” a mobile virtual network operator in the United States with 1.4 million subscribers.

In a brief statement, the Carlos Slim-controlled company said the acquisition was completed by its U.S. unit Tracfone Wireless, although it did not indicate the cost of the transaction.

Start Wireless Group “offers, among others, prepaid plans for voice, messaging and data,” America Movil added.

Separately, the Mexico City-based company increased its stake in Telekom Austria to 26.8 percent, which is enough to veto major decisions by the European telecoms provider but below the 30 percent threshold that - under Austrian law - would require America Movil to make a takeover bid.

America Movil said that as of Sept. 30, 2013, it had 265.1 million wireless subscribers and 68.3 million fixed revenue generating units in the Americas.

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