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Brazil antitrust regulator approves America Movil's purchase of Nextel in the country

SAO PAULO (Reuters) - Brazil’s antitrust regulator CADE on Wednesday approved the proposed purchase of Nextel by Mexican telecom America Movil, which operates in the country under the brand name Claro, saying it did not have concerns about diminished competition.

Rival telecom TIM Participacoes TIMP3.SA had opposed the transaction and submitted a brief. America Movil said in March that it would buy Nextel Brasil for $905 million.

Reporting by Alberto Alerigi Jr; Editing by Chizu Nomiyama

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