Pericles Capital acted as the lead financial advisor to the investor consortium led by OXIO Inc. and Newfoundland Capital Management in their landmark agreement to acquire Movistar Mexico from Telefónica S.A. (BME: TEF).

Securities services for Pericles Capital in connection with this transaction were offered through Seaport Global Securities LLC.

This pioneering transaction represents a major milestone in the evolution of the global telecommunications industry. The acquisition positions Movistar Mexico, which currently serves over 20 million subscribers, to transform into a next-generation, digitally driven operator. Central to this transition is the integration of OXIO’s Telecom-as-a-Service (TaaS) platform, a cloud-native architecture that will modernize systems, enhance operational agility, and unlock new AI-enabled data opportunities.

Key Highlights of the Transaction:

Strategic Transformation: Movistar Mexico will transition to a cloud-native operating model powered by OXIO’s TaaS platform while continuing to operate under the trusted Movistar brand.

Market Leadership: The deal reinforces Mexico’s position as a critical hub for North American digital infrastructure and wireless innovation.

Asset-Light Innovation: The partnership leverages Movistar’s successful shift toward an asset-light model, focusing on customer experience and digital-first services.

The transaction remains subject to closing conditions between the parties and customary regulatory approvals.

About Pericles Capital

Pericles Capital is a financial advisory firm specializing in complex transactions across several sectors including technology, media, and telecommunications sectors. Securities offered through Seaport Global Securities, LLC. Member FINRA/SIPC.

About OXIO

OXIO is building the global network of the future as the first Telecom-as-a-Service (TaaS) platform. The company’s technology-first approach to telecom unlocks innovation and possibility while delivering actionable insights for customer-obsessed companies competing in a data-driven world. In 2026, OXIO was ranked #1 by Juniper Research for MVNO-in-a-box solutions. OXIO is headquartered in New York and has offices in Mexico City and Montreal. For more information, visit oxio.com.

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Pericles Capital Acts as Lead Financial Advisor to U.S.-Led Consortium in Acquisition of Movistar Mexico