El Salvador: América Móvil prevented from buying Telefónica subsidiary

The Superintendency of Competition of El Salvador threw out a request presented by América Móvil, owned by Mexican magnate Carlos Slim, to buy the subsidiary of Spanish telecommunications giant Telefónica that operates in the Central American country, arguing that the minimum requirements had not been met.

The Mexican company indicated that it will soon submit a new application, resolving the objections presented by the Superintendence of Competition. “The application by América Móvil has not yet been evaluated under the terms of the Competition Law of El Salvador, which has only pronounced itself with respect to formal aspects…” said América Móvil.

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