América Móvil buys Telefónica's El Salvador, Guatemala operations

Mexico's telecommunications operator América Móvil announced on Thursday it has acquired 100% of Telefónica's assets in Guatemala for US$333mn, as well as an agreement to buy 99.3% of the Spanish company's operation in El Salvador for US$315mn.

"The acquired companies provide mobile and fixed telecommunications services, including voice, data and Pay TV in El Salvador and Guatemala, respectively. With this transaction, AMX consolidates its position as one of the leading telecommunication service providers in Central America, strengthens its position in both countries to continue providing integrated telecom services and positions itself to provide next generation services, including 5G," Mexican tycoon Carlos Slim's (pictured) company said in statement.

Telefónica had announced earlier this week that it was in negotiations to sell part or all of its Central American operations.

The acquisition of Telefónica Guatemala was closed on Thursday, while the Telefónica El Salvador transaction is still subject to regulatory approval. Both operations are marketed under the Movistar brand, offering fixed and mobile services, including voice, data and pay TV.