OXIO-Led Consortium Acquires Movistar México

A U.S.-investor consortium, led by OXIO Inc. and Newfoundland Capital Management, has agreed to acquire Telefónica===Movistar México from Telefónica. This transaction aims to position Telefónica===Movistar México for its next phase of growth by transitioning its operations to OXIO Inc.'s Telecom-as-a-Service platform, which is cloud-native and digitally driven. Telefónica===Movistar México will continue to operate under its existing brand and management team, with expectations of uninterrupted service and future quality improvements for its over 20 million subscribers. The deal is subject to closing conditions and regulatory approvals. This acquisition highlights the long-term opportunity for continued digital transformation in Mexico's wireless sector, driven by a rapidly growing digitally native population and the country's strategic position in North American digital infrastructure.