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General

El Salvador rejects America Movil's bid to acquire Telefonica's local unit

Wednesday 22 May 2019 | 10:44 CET | News

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El Salvador's antitrust regulator Superintendencia de Competencia has rejected America Movil's deal to acquire Telefonica's operations in the country, describing it as "inadmissible" but opening the way for a fresh application. Telefonica reached an agreement to sell its Guatemala and El Salvador assets to the Mexican giant for a total of EUR 570 million back in January. The parties agreed that Telefonica El Salvador had an enterprise value of EUR 277 million and said they expected the deal to close by September.

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Categories: General
Companies: America Movil / Telefonica
Countries: El Salvador
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