America Movil Cancels Deal to Buy Digicel El Salvador
Published on: 14th Oct 2012
Note -- this news article is more than a year old.
Am rica M vil has announced that it is cancelling a deal to buy Digicel's operations in El Salvador.
The company did not comment on the issue, but the company has struggled to secure permission from local regulators to approve the transaction.
Last month, El Salvador's anti-trust body said that the combination of the two mobile networks under one owner would have an adverse effect on "competition and the welfare of consumers in the fixed and mobile telephony markets" and be detrimental to customers in general.
The deal to sell the El Salvador subsidiary is part of a wider agreement between the two companies announced last March which saw Digicel acquire America Movil's Claro business in Jamaica, in exchange for selling its operations in El Salvador and Honduras.
The Jamaican and Honduran transactions have already been approved by their local regulators.