El Salvador’s Superintendency of Competition confirmed that it has received a request for approval of General International Telecom’s acquisition of Movistar (Telefonica Moviles) and Telefonica Multiservicios.
If it chooses to admit the application following a review, the competition watchdog will then have 90 days to conduct a technical analysis seeking to assess the impact of the proposed acquisition on competition in El Salvador’s mobile sector.
Earlier this month, Telefonica Centroamerica Inversiones reached an agreement with General International Telecom Limited for the sale of its entire 99.3% holding in Telefonica Moviles el Salvador for a total of US$144 million. The deal will require regulatory clearances before it can close.
Telefonica holds a 60% stake in Telefonica Centroamerica Inversiones, with the remaining 40% held by Corporacion Multi Inversiones. TeleGeography reports that the sale is part of a broader strategy by Telefonica to reduce its exposure to risk in Latin America and create value to improve return on capital.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI