Rumour Mill: America Movil looks to enter Spanish market

The Mexican operator America Movil is reportedly in talks with TeliaSonera in connection with entering the Spanish market. Talks are said to focus on America Movil acquiring the 76.5 per cent shareholding that TeliaSonera has in its Spanish mobile phone company, Xfera (more commonly known by its brand name Yoigo).

The chairman of America Movil, Daniel Hajj, is reported to have met with a top director at TeliaSonera at the Mobile World Congress in Barcelona, and the two companies' legal departments are already said to have begun studying the acquisition.

However, Yoigo's CEO, Johan Andsjo, has denied the company is up for sale, saying it remains focused on achieving a 10 per cent market share by 2015.

For more on this story:
- read CNN Money and Telegeography

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