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Brazil: America Movil accelerates merger plans

By  |  August 3, 2014

Following Brazil antitrust regulator CADE’s approval of the plan, the Brazilian units of Mexico-based America Movil are reportedly boosting their merger plans, announcing expectations to wrap up the deal by the end of the year.

America Movil, headed by media mogul Carlos Slim, operates wireless operator Claro, long-distance fixed-line telco Embratel and cable operator Net in Brazil; the three will be combined in a move that sees Claro acquiring the other two operations.

CADE approved of the combination last week and America Movil said Friday it will complete the deal within a few months.

Full content: Reuters

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