America Movil has signed an agreement with BCP?s creditor banks buying the A-band cellular carrier for metropolitan Sao Paulo by 625m USD, including debts. It means 367 USD per subscriber. BCP has 1.7m subscribers at this point.
America Movil will be able to rapidly and efficiently obtain synergies for its Brazilian operations by acquiring BCP. Claro currently controls ATL, Tess, Americel, Telet and BSE, with 6.7m subscribers all told. Moreover, its technology is TDMA, the same as BCP, albeit migrating to GSM.
A director of one of BCP?s creditor banks with a key role in the restructuring of its debt says the price paid could exceed 500 USD per subscriber, or 850m USD, but stresses that ?Verbier (Safra Group) and BellSouth would have to repay part of the debt?.
Competition