Telefonica is moving forward with its long-standing aspiration to reduce its position in Latin America by looking to sell its Mexican business.

Frontrunner Beyond ONE is competing with Walmart’s Wal-Mart de Mexico and a financial buyer for the Mexican asset, which is seen more as a mobile virtual network operator (MVNO) than as a standard telco. Asset-light MVNOs typically sell for lower multiples than normal operators.

Iñaki Miguel, Mergermarket’s senior Iberian correspondent, and Carlos Martínez, the publication’s Canada editor, join Dealcast host Julie-Anna Needham to discuss why this deal will be such a significant milestone for the Spanish company when it comes.

• Could Mexico’s new telecoms regulator challenge the deal if Walmart wins the auction?
• Will Telefónica maintain a position in Brazil?
• Why has Spain’s State Company for Industrial Investments (SEPI) promoted a management change at the Madrid-based company?

All this and more in this week’s Dealcast.