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Salvadoran regulator snubs Slim's bid for Telefónica unit

Wednesday, May 22, 2019

El Salvador’s competition authority on Tuesday said it had rejected a bid by Mexican telecoms company America Movil to acquire the local unit of Spanish rival Telefonica, arguing the planned takeover did not meet anti-trust requirements.

The bid by America Movil, which is controlled by the family of Mexican billionaire Carlos Slim, was “inadmissible”, Reuters reports.