January 24, 2019 / 9:05 PM / in 5 months

America Movil buying Telefonica operations in Central America

FILE PHOTO - The logo of America Movil is pictured on the wall of a reception area in the company's corporate offices in Mexico City, Mexico, May 18, 2017. REUTERS/Edgard Garrido

MEXICO CITY (Reuters) - Mexico’s America Movil said on Thursday it is acquiring Telefonica’s operations in Guatemala for $333 million and in El Salvador for $315 million.

America Movil, which is controlled by the family of Mexican billionaire Carlos Slim, said in a statement that it will acquire 100 percent of the Guatemalan business and 99.3 percent of the Salvadoran business.

The transaction in Guatemala has closed, and the Salvadoran deal is pending regulatory approval, the statement added.

Reporting by Julia Love; Editing by David Alire Garcia

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