El Salvador refuses América Móvil acquisition of Telefónica unit

El Salvador refuses América Móvil acquisition of Telefónica unit

M&A Economy & Policy Regulation Politics Telecoms El Salvador Mexico Guatemala Central America

El Salvador's antitrust agency, the Superintendencia de Competencia (SC), has blocked América Móvil from buying the local unit of Telefónica Móviles, saying the deal is "inadmissible." América Móvil announced in January that it had agreed to buy Telefónica's business in El Salvador for $315m and in Guatemala for $333m. The Mexican telecommunications company, owned by billionaire Carlos Slim, will appeal the decision, according to the SC. América Móvil did not return requests for comment. The

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