El Salvador competition body rejects Claro-Digicel merger

News Wireless El Salvador 26 MAY 2011
El Salvador competition body rejects Claro-Digicel merger
El Salvador competition watchdog Superintendencia de Competencia (SC) has rejected the proposed merger of America Movil's local subsidiary Claro with Digicel. America Movil agreed to acquire Digicel's businesses in El Salvador and Honduras, and filed for regulatory approval on 1 April. Under SC's current decision, Claro and Digicel will have to restart the merger application process. According to SC, the companies failed to submit the complete information related to the merger process. "This inadmissibility does not mean that the merger has been rejected, but rather that the [two] companies must restart the merger application process", the Superintendence said in a statement.

Categories:

Mobile

Companies:

America Movil,  Claro,  Digicel

Countries:

El Salvador

Tags:

Voice services, Shareholders & subsidiaries, Government policy, M&A buyouts & divestments

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