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Mexico's America Movil ends deal to buy Digicel

The logo of America Movil is seen on the wall of the reception area in the company's new corporate offices in Mexico City February 8, 2011. REUTERS/Henry Romero

The logo of America Movil is seen on the wall of the reception area in the company's new corporate offices in Mexico City February 8, 2011.

Credit: Reuters/Henry Romero

MEXICO CITY | Thu Oct 11, 2012 11:09pm EDT

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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