America Movil -through its subsidiary Claro- requested the Salvadoran Competition Superintendence (SC) the authorization to acquire Telefonica (Movistar) in that country. The company sent the third request for the merger to the Salvadoran organization last September 19th, after the institution declared the second request ‘inadmissible’ due to the lack of documentation required to authorize the concentration.
The last request was rejected by the SC in August, which informed the Mexican company that it could submit a new application once the required information was completed.
America Movil made the third request to the SC, in order to acquire 99.3% of Movistar El Salvador’s assets, valued at USD 315 million. Apart from El Salvador, Telefonica agreed to sell Movistar Guatemala with America Movil, and sold its subsidiaries in Costa Rica, Panama and Nicaragua to Millicom.