Mexico's Iusacell Shapes For Attack On America Movil
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Infolatina via NewsEdge Corporation : MEXICO CITY, Mar 30, 2001 (El Economista/Infolatina via COMTEX) --
Recently announced management changes at Mexican mobile carrier Grup Iusacell, including the forthcoming departure, in early April, of CEO Fulvio del Valle, have led industry observers to believe the company is planning a major expansion push in an effort to breach the gap with Telefonos de Mexico (Telmex) spin-off and No. 1 Mexican mobile operator America Movil, known in Mexico as Telcel, according to a report in Mexican financial daily El Economista. Iusacell, the country's second-largest mobile carrier, will be up against smaller Mexican market players such as Pegaso, Unefon and Telefonica Movil in the scramble for a larger subscriber base, El Economista business columnist Tomas de la Rosa reported. According to consultants Yankee Group, Mexican mobile phone use will rise at an average annual rate of 18 percent over the next five years, reaching a total of 35 million users in 2006. U.K. giant Vodafone Group recently paid more than 900 million dollars cash for a 34.5-percent stake in Iusacell. Verizon Communications holds a 39-percent stake in the company.
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