América Móvil calls off Telefónica deal in El Salvador

América Móvil calls off Telefónica deal in El Salvador

Capital Markets M&A Mexico El Salvador Latin America

Mexican telecommunications company América Móvil said Thursday that it had called off the acquisition of Telefónica El Salvador after studying the conditions imposed by the local antitrust authorities. America Móvil agreed in January last year to buy Telefónica's businesses in Guatemala and El Salvador for $648 million in total, including $333 million for all of Telefónica Guatemala and $315 million for 99.3% of Telefónica El Salvador. Concerned that América Móvil already owns mobile phone carri

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