On Sunday the Federal Competition Commission (FCC) approved AT&T Inc.’s $1.7 billion purchase of the cellphone company Iusacell.
Although the announcement by the FCC did not disclose the specific conditions for the sale, it did say it set conditions on the acquisition to “avoid risks to the process of competition” in markets where Iusacell would compete with America Movil.
America Movil is México’s biggest mobile operator, while Iusacell is third.
The FCC also said it approved Televisa’s sale of its 50 percent stake in Iusacell back to Grupo Salinas, from which AT&T will then buy the operator in its entirety.
AT&T will enter the Mexican market as a provider of mobile telecommunications services.
(from Reuters)
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