Mexico watchdog OKs Cinemex acquisition of Cinemark subsidiary

MEXICO CITY Tue Nov 12, 2013 3:49pm EST

MEXICO CITY (Reuters) - Mexico's competition watchdog on Tuesday approved movie theater chain Cinemex's purchase of the operations of U.S. group Cinemark's local subsidiary, after blocking the deal earlier in the year.

The deal, which includes 31 cinemas with 290 screens, was originally announced in February, but no financial details were given.

"The majority of the commissioners believed there are no elements to conclude serious risks to competition in the film screening market as a result of an eventual merger of the two companies," watchdog CFCE said in a statement.

(Reporting by Gabriel Stargardter and Veronica Gomez; Editing by Jan Paschal)

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