The Competition Superintendence in El Salvador has approved a merger between AMNET and Telefónica Multiservicios having determined that it will not generate a significant limitation of current competitive conditions.
From a press release from the Superintendence of Competition:
The Competition Superintendence of El Salvador has approved the economic concentration between AMNET and Telefónica Multiservicios after determining that it will not generate a significant limitation to current competitive conditions.
The Superintendency of Competition in El Salvador has agreed to process a merger request by Amnet and Multi Telefónica.
From the press release from the Superintendency of Competition in El Salvador:
The Superintendency of Competition (SC) has accepted an application for authorization of an economic concentration by the Telecommunications companies Amnet and Telefonica SA Multi, due to Amnet’s purchase of a client list and some assets directly related to the provision of telephone and internet services from the company Telefónica Multiservicios.
El Salvador is the first country in Central America where there was a complete merger.
Tigo’s parent company, Millicom International Cellular S. A., invested $14 million to expand Amnet's network in the country.
La prensagrafica.com reported statements by Ignacio Baratelli, CEO of Tigo El Salvador: "Amnet is now Tigo. Beginning today, all customers are covered under the same Tigo Banner.
The Swedish firm Millicom has purchased the telecommunications company AMNET for 510 million dollars, and will acquire its 350,000 cable clients in Honduras, Costa Rica and El Salvador.
AMNET offers services of cable television, telephone and internet as a multimedia "Triple Play" package.
The company has the biggest fiber optics network in the region and is the largest cable company in El Salvador and Costa Rica.