Reports have emerged that telecom giant America Movil has pulled out of a deal to acquire Digicel's entire operation in El Salvador.
Although the agreement was finalised between the two parties news came yesterday that Digicel had granted consent for America Movil to withdraw from the deal.
The deal for America Movil to acquire the El Salvador business was struck in March, with ownership of Digicel’s Honduras unit going in the same direction.
Digicel acquired America Movil’s Claro network in Jamaica as part of the agreement.
One reason for the deal’s cancellation may be that the El Salvador competition regulator had stipulated that America Movil would have to relinquish 20 megahertz of spectrum for the deal to get the green light.
America Movil has a major presence in Latin America and is currently expanding into Europe.
All feeds
