SAO PAULO, April 23 (Reuters) - Telecom operator Claro, owned by Mexico's America Movil, is open to new deals in Brazil following its recently announced purchase of internet provider Desktop. "We
America Movil's Claro Considers More Acquisitions in Brazil After Desktop Deal
Claro's Expansion Strategy and Recent Acquisition
Overview of Claro's Acquisition Approach
SAO PAULO, April 23 (Reuters) - Telecom operator Claro, owned by Mexico's America Movil, is open to new deals in Brazil following its recently announced purchase of internet provider Desktop.
CEO's Statement on Acquisition Criteria
"We analyze all the options that come our way," Claro's Brazil CEO Rodrigo Marques told reporters in Sao Paulo on Thursday. "But we don't buy just anything for the sake of buying. It has to be related to our customers' needs."
Details of the Desktop Acquisition
Claro announced last month a deal to buy a 73% stake in Desktop for an enterprise value of 4 billion reais ($808.93 million), with a base equity price of about 2.4 billion reais after deducting the Brazilian firm's net debt.
Regulatory Approval Process
Marques noted that the deal still requires approval from antitrust watchdog CADE and telecom regulator Anatel, which he expects could be granted by the end of the year.
Strategic Importance of the Deal
Focus on Sao Paulo and Nationwide Opportunities
The executive said the Desktop acquisition was driven by the company's strong presence in Sao Paulo state, Brazil's most populous and economically significant, while noting that Claro is open to deals across the country as it operates nationwide.
America Movil's Ownership Structure
America Movil is controlled by the family of Mexican billionaire Carlos Slim.
Exchange Rate Information
($1 = 4.9448 reais)
(Reporting by Luciana Magalhaes; Editing by Gabriel Araujo)
