Mexico officials are reportedly ordering AT&T not to continue its merger process with DirecTV until the companies gain approval by telco authorities.
According to reports, Mexico’s Federal Telecommunications Institute is requiring AT&T and DirecTV to obtain approval for the $48 billion deal by the Institute’s Unit for Economic Competition.
DirecTV holds a strong presence in Mexico through its partnership with Televisa Group, which holds a 58.7 percent share in Sky Mexico. AT&T holds a stake in Mexico’s top wireless operator America Movil, though has promised to divest that ownership.
The companies said they expect to close the merger in about a year. Outlets did not report whether the firms commented on Mexico’s order.
Full content: Telecompaper
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