Business
O2 Secure Wireless profits on the revival of the breakup of Mexico's Leading Telecommunications Firm
O2 Secure Wireless profits on the revival of the breakup of Mexico's Leading Telecommunications Firm.
About this update from O2 Secure Wireless Inc
[{"type":"text","content":"O2 Secure Wireless profits on the revival of the breakup of Mexico's Leading Telecommunications Firm\n \nAs billionaire Carlos Slim rejuvenates his stalled plans to break up part of América Móvil in Mexico, O2 Secure Wireless prepares to close its first acquisition and eyes yet another.\n \nST. AUGUSTINE, Fla., Feb. 11, 2015 - O2 Secure Wireless, Inc. (OTC PINK: OTOW), a developer of domestic and international hi-speed wireless Internet facilities, Mobile Internet solutions and the OTOW Network, announced today it begins negotiations with yet another Mexican telecommunications company as it prepares for the upcoming closing of the acquisition of Technologies Argus First de Mexico. \nO2 Secure Wireless sets its sight on yet another company, increasing their market share in Latin America and the Caribbean (LAC) as billionaire Carlos Slim rejuvenates his plans to break up part of América Móvil (http://www.americamovil.com/amx/en/) in Mexico. \n \n“The breakup of Mexico’s leading telecommunications firm, América Móvil, could not have come at a better time for our company. We are excited that billionaire Carlos Slim is reviving the stalled plans of such a vast break up. With so many new opportunities opening up in LAC, we are poised to surpass our revenue forecast,” said Val Kazia, CEO of 02 Secure Wireless Inc. After more than two decades since the acquisition in Mexico's state phone monopoly, Carlos Slim announced the breakup of part of his company in July of 2014 as Mexico's Congress put the finishing touches on new telecommunications laws to guide the implementation of last year's constitutional overhaul to increase competition in the telecoms market. Shortly thereafter, the break up was stalled. \n \nAmérica Móvil controls around 70% of Mexico’s telecom market, which is grossly affected by these new laws. The overhaul is one of the principal changes undertaken by the government of President Enrique Peña Nieto. Specific regulations faced by América Móvil under Mexico's new laws include forced network sharing and the elimination of long-distance phone charges and fees for completing calls on its network. Carlos Slim’s company is adjusting its breakup plan to make the assets more attractive to potential suitors, including AT&T Inc. and Spain’s Telefonica SA.\nAmerica Movil now plans to offer specific segment...