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Mexico's America Movil ends deal to buy Digicel
MEXICO CITY |
MEXICO CITY (Reuters) - Latin America's biggest cell phone company America Movil (AMXL.MX) has pulled out of a deal to buy Digicel's DIGHL.ULoperations in El Salvador, it said on Thursday.
America Movil has "ended the signed agreement to acquire 100 percent of the operations of Digicel in El Salvador", it said in a statement late on Thursday.
America Movil, owned by Mexican billionaire Carlos Slim, added that Digicel agreed with the decision.
Last year, El Salvador's competition watchdog said America Movil would have to give up 20 megahertz of spectrum if its proposed acquisition of Digicel's operations in the Central American country was to be approved.
(Reporting By David Alire Garcia; Editing by Daniel Magnowski)
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