Slim takeover could be 'admissible'

El Salvador’s competition authority said its review of Mexican telecoms firm America Movil’s bid to acquire the local unit of Spain’s Telefonica had not yet been concluded. América Móvil is controlled by Carlos Slim.

On Tuesday, the regulator said the bid by America Movil was “inadmissible”

However, a spokeswoman said that the authority had been unable to analyze the bid because it “did not include all the information required by law” and the process was still open, Reuters reports.