Corporate legal manager - mergers and acquisitions | America movil

Diego Eduardo Villegas Frias
Corporate legal manager - mergers and acquisitions | America movil
Team size: Four
How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?
In the M&A landscape of the telecommunications sector, managing legal aspects during crises requires balancing strategic alignment with risk adaptability. As Legal Manager for M&A at a telecoms holding company, my focus is on ensuring that legal remains closely integrated with business objectives—especially during volatile periods.
We work alongside leadership to reassess transaction priorities, adapt deal structures, and anticipate regulatory or jurisdictional risks. This includes scenario planning for cross-border approvals, renegotiating key terms, and reassessing exposure in sensitive markets.
Crucially, we maintain agility. Whether navigating antitrust considerations, spectrum licensing, or compliance across multiple jurisdictions, our legal strategy evolves in real time to match the pace of the business.
By embedding legal into strategic decision-making, we help preserve deal value and support long-term resilience—even when external conditions are unpredictable.
What are the major cases or transactions you have been involved in recently?
Our legal team has recently supported two key transactions that reflect the group’s strategic priorities.
The first involved the full acquisition of Claro Chile SpA through the purchase of the remaining shares from LLA UK Holding Limited—an important step in consolidating operations and strengthening our presence in a highly competitive telecommunications market.
The second was América Móvil’s strategic investment in an aerospace company developing high-altitude platform stations (HAPS) to expand connectivity and support environmental monitoring. As the lead investor in the company’s Series B funding round, this move reinforces our group’s commitment to innovation and digital inclusion.
Both transactions were the result of close coordination among internal teams and leading international law firms, including counsel based in New York, to navigate regulatory, corporate, and cross-border complexities.
What measures has your company taken to embed sustainability practices into its core business operations, and how does the role of the general counsel contribute to driving and ensuring sustainable practices within the company?
Sustainability is deeply embedded in our group’s long-term strategy, especially given our focus on expanding digital infrastructure in Latin America. From an M&A perspective, we increasingly incorporate ESG considerations into due diligence, transactional structuring, and post-deal integration—ensuring that new investments align with our environmental and social commitments.
Legal plays a key role by identifying sustainability-related risks and opportunities early in the deal process, and by promoting contractual mechanisms that encourage long-term compliance with ESG standards. We also work closely with internal teams to assess regulatory developments related to climate, data governance, and responsible business conduct across multiple jurisdictions.
In this way, legal contributes not only to compliance, but to shaping transactions that support the group’s broader goals around sustainable growth and digital inclusion.