América Móvil's Peruvian unit agrees to buy Olo Del Peru and TVS Wireless

América Móvil, the Mexican telecoms giant controlled by billionaire Carlos Slim, said on Monday its Peruvian subsidiary had agreed to buy Olo Del Peru S.A.C. and TVS Wireless S.A.C., two telecommunications operators in Peru.

In a statement to the Mexican bourse, América Móvil said its local subsidiary, América Móvil Peru S.A.C., had agreed a share deal with Metsanco Limited and its affiliates to buy the two companies, which hold 2.5 GHz spectrum.

The deal is subject to certain conditions being met, América Móvil added, without disclosing financial details.

In March, América Móvil's Chief Financial Officer Carlos García Moreno told Reuters the company, which is grappling with tough regulation at home and deepening recession in Brazil, had no acquisitions on the horizon.