Boston, MA 09/23/2014 (wallstreetpr) – Softbank Corp. (Japan) (OTCMKTS:SFTBY), the Japanese mobile phones company that controls Sprint Corporation (NYSE:S), said that it was weighing its investment opportunities in the wireless carrier of Mexico, Grupo Iusacell SA. If Softbank manages to get through this deal, it will be the first sortie by any company into the Latin American market, which is offering huge scope of growth for the wireless industry.
Advanced Stages of Review
Bloomberg reported that Softbank has moved further to the stage of advanced review for the assets of the Mexican wireless carrier. Hinting towards the deal, the owner of Grupo Iusacell SA, Ricardo Salinas said that the industry would soon get to hear about the new outstanding strategic partner of his company.
SoftBank Pouncing on the New Laws of Mexico
Softbank Corp. (Japan) (OTCMKTS:SFTBY), it seems, does not wish to leave any scope of expansion. Because of this reason, the company has decided to immediately pounce on the opportunity of New Mexican laws, which have allowed the foreign investors to enter the telecommunication market. Mexico, at present, is gearing up for intense competition in the industry.
After tasting the staunch competition in the wireless telecommunication industry of the U.S., SoftBank is zeroing in on Mexico. Quite notably, the Tokyo wireless carrier is among those few prospective buyers, who have been contacted by America Movil SAB, which is gearing up for the sale of assets worth $17.5 billion in Mexico.
However, Softbank Corp. (Japan) (OTCMKTS:SFTBY) is more interested towards the company owned by the fourth richest Mexican man. Also, Grupo Iusacell SA, at present, has captured the mobile market share of 8% in Mexico. Grupo Iusacell SA will look forward to a company that will have high technical skill and know-how in order to take the company towards key international player path. Also, it will look forward to a suitor that will be able to meet the increasing demand through strong financial capability.