Latin Lawyer: Haynes and Boone Advises AT&T in Mexican Exchange Offer
As part of América Móvil’s bid to buy up outstanding shares in Telmex, Haynes & Boone LLP has assisted US telecoms company AT&T International in selling off its stock in the Mexican fixed line telecoms company for some US$1.1 billion.
AT&T sold its shares over the Mexican stock exchange on 11 November after Carlos Slim’s mobile phone arm América Móvil turned to regular counsel Robles Miaja Abogados and Cleary Gottlieb Steen & Hamilton LLP to launch a tender offer on the US and Mexican stock exchanges for an outstanding 40 per cent in Telmex in October; part of Slim’s drive to consolidate his telecoms empire.
Following the exchange offer, AT&T and América Móvil have since signed an agreement to share communication networks in Latin America.
Excerpt from Latin Lawyer, Dec. 1, 2011. To view the full article, click here (subscription required).