Telefonica Scraps El Salvador Sale to America Movil on Regulatory Concerns
September 04 2020 - 2:17AM
Dow Jones News
By Giulia Petroni
Telefonica SA said late Thursday that the deal to sell 99.3% of
its unit Telefonica Moviles El Salvador, SA de CV to America Movil,
SAB de CV has been scrapped due to regulatory issues.
The Spanish telecommunications company said the decision was
mutual and came after careful consideration of the conditions to
obtain regulatory approval for the transaction.
America Movil is the Mexico-based telecom giant controlled by
magnate Carlos Slim.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
September 04, 2020 02:02 ET (06:02 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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