Puerto Vallarta News

Puerto Vallarta News

China Telecom Could Be TelCel’s Next Competitor

The company is seeking local partners to join it in a consortium, three people with knowledge of the matter said.

It has already secured up to several billion dollars of financing from Chinese state-controlled banks, including the China Development Bank, for the project, which Mexico estimates will cost $10 billion over 10 years, one of the people said.

The proposed network is part of a sweeping reform designed to break billionaire Carlos Slim's hold on the Mexican telecoms business, but the Chinese involvement could prove controversial and trigger concerns from the U.S., some Mexican officials say.

Mexico . . .

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