A few months ago it was rescuing the New York Times with a massive financing package. This month Carlos Slim, owner of América Móvil, is reportedly eying the purchase of Columbus Communications, which owns and operates an undersea cable throughout the Caribbean and also acts as an ISP and cable provider. Columbus owns more than 90% of the ARCOS (Americas Region Caribbean Optical-ring System), which connects 24 locations throughout the Caribbean.
If the deal goes through, Slim would solidify his position as the largest telecom provider in the Caribbean. Signals Telecom Consulting analyst Jose Otero tells BNamericas: “Besides strengthening its presence in Jamaica, the operator would also establish a strong presence as a pay TV provider in the Bahamas, Grenada and Trinidad & Tobago. Furthermore, América Móvil would have a stronger service portfolio tailored for the corporate/enterprise market in Panama, [and inherit] over 21,000km of undersea and terrestrial fiber and, among other things, a voice telephony license for Curaçao,” he said.