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El Salvador sets condition for América Móvil deal

Tuesday, October 11, 2011

El Salvador's competition watchdog said América Móvil must give up 20 megahertz of spectrum if its proposed acquisition of Digicel's operations in the country is to be approved.

Digicel agreed in March to sell its El Salvador and Honduras operations to América Móvi, Latin America's biggest operator of cellphone services.

In the March deal, América Móvil, owned by Mexican billionaire Carlos Slim, also agreed to sell its business in Jamaica to Digicel. No financial terms of either transaction were disclosed.

Original source: Reuters