Trade: Mexican firm to acquire US operator Start Wireless

Mexico City, May 22: Mexican telecommunications giant America Movil says it has agreed to buy US mobile operator Start Wireless Group for an undisclosed amount.

In a filing with the Mexican Stock Exchange, the Mexico City-based company announced its US unit Tracfone Wireless had reached a deal to acquire the assets of Start Wireless Group, an Ohio-based mobile virtual network operator.

The transaction is expected to close in the second half of 2013, subject to certain conditions, including regulatory approval, America Movil said.

Start Wireless has approximately 1.4 million subscribers and offers pre-paid plans for voice, messaging and data services, the company controlled by Mexican multi-billionaire Carlos Slim said.

America Movil, Latin America's leading telecommunications provider, had 262.9 million wireless subscribers and 65.3 million revenue generating units in the Americas as of March 31, 2013.

IANS