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2 months ago
France's JCDecaux, America Movil create joint venture in Mexico
June 27, 2017 / 5:38 AM / 2 months ago

France's JCDecaux, America Movil create joint venture in Mexico

June 27 (Reuters) - France's JCDecaux said on Tuesday it will create a joint venture with Mexican telecommunications group America Movil by merging their out of home (OOH) advertising businesses.

JCDecaux will hold 60 percent of the new company, JCD Out Of Home Mexico, S.A. de C.V. (JCDecaux MX), with the remaining 40 percent held by a wholly owned subsidiary of America Movil, the French group said in a statement.

The transaction is expected to close before year-end. (Reporting by Alan Charlish; Editing by Sherry Jacob-Phillips)

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