No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveMexican Telecom Giant Buys Out Estesa

Mexican Telecom Giant Buys Out Estesa

Latin America’s largest cell-phone  operator, America Movil, has bought out  Nicaraguan telecommunications firm Estesa Holding Corp, Nicaragua’s cable TV and Internet-service provider, the company said in a statement.

America Movil announced that it has acquired 100 percent of Estesa, though it hasn’t made public the price of the buyout.

The acquisition is the latest by Mexican telecom magnate Carlos Slim in his push into other Latin American countries, particularly in Central America. His America Movil already provides fixed-line and wireless services in Guatemala, El Salvador and Honduras, with plans to set up shop in Costa Rica and Panama.

America Movil has 165 million wireless subscribers and 3.9 million landlines in the hemisphere, with 8.2 million wireless subscribers and 2.2 million landline users in Nicaragua, El Salvador, Guatemala and Honduras. The company also recently acquired licenses to operate in Panama and Costa Rica, where the state-run telecom monopoly is opening to private competition.

In Nicaragua, America Movil owns the Enitel fixed-line phone company and Claro wireless company.

As part of the Estesa buyout, America Movil will take over the company’s services and expects to soon offer “triple play” services – high-speed Internet, television and telephone in one broadband connection.

Between cable subscribers and Internet subscribers, Estesa currently has more than 100,000 clients in Nicaragua with 700 kilometers of fiber-optic cable, according to a statement by Estesa partner Invercasa.

America Movil-recently launched the iphone in-Central America, beating its regional rival, the Spanish company Telefonica, which owns Claro’s cellular phone competitor in Nicaragua, Movistar.

Slim, worth an estimated $60 billion, passed Bill Gates this year on Forbes magazine’s ranking of the world’s richest people after his America Movil struck a deal with Yahoo to provide mobile Web service to 16 Latin American countries.

He is now ranked as the world’s secondrichest man, trailing only Warren Buffet, according to Forbes magazine.

 

Trending Now

Retired Nicaraguan Army Captain Sentenced to 50 Years for Treason

A retired military officer was sentenced to 50 years in prison in Nicaragua for the crime of "treason against the homeland," his family denounced...

Guatemala Makes History as They Face USA in Gold Cup Semifinal Showdown

Desperate to show progress under Mauricio Pochettino, the United States is looking to secure a return to the CONCACAF Gold Cup final on Wednesday...

Prisma Dental in Costa Rica Keeps Customers Happy and Smiling

I am 81 years old and have had teeth removed, bridges, and cavities fixed several times to sustain my ability to eat and function....

Costa Rica’s Rare Birds at Risk as Human Activity Threatens Extinction

Costa Rica’s bare-necked umbrellabird, a striking black bird with a red throat pouch and crest, is in trouble. A new study in Nature Ecology...

Costa Rica Green Hotels Lead Global Sustainable Tourism

Costa Rica’s reputation as a leader in sustainable tourism grows stronger every year, with our green hotels setting a high bar for eco-conscious hospitality...

Costa Rica Maintains Economic Stability Amid Global Tensions

Costa Rica is holding steady economically despite global tensions sparked by conflicts involving Israel, the United States, and Iran, according to Federico Quesada Chaves,...
Avatar
spot_img
Costa Rica Tours
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica