America Movil may take aim at Telefonica by entering Spanish wireless market

Mexican telecom investor Carlos Slim Helu reportedly plans to bid for a wireless license in Spain. Slim's America Movil, Latin America's largest telecom, plans to submit a proposal to buy a wireless license in Spain, possibly bidding for telecom holding company Auna Operadores de Telecomunicacione. Some analysts see the move as defensive, positioning Slim's America Movil against Telefonica, Latin America's second-largest wireless carrier and Movil's biggest rival. Telefonica has used its profits from its operations in Brazil and Spain to help it grab market share from America Movil in Mexico.

For more on Slim's reported plans to enter Spain:
- check out this piece from AFX News