Regulator approves América Móvil’s takeover of Verizon Dominicana

31 May 2006

The Executive Council of the Dominican Republic’s telecoms regulator Indotel has approved the transfer of the operating concession held by Verizon Dominicana to América Móvil, paving the way for the Mexican mobile group to take control of the Republic’s former monopoly operator within 60 days, according to Prensa Latina. Last month América Móvil struck a deal to acquire Verizon’s 100% interest in Verizon Dominicana for USD2.062 billion.

Dominican Republic, America Movil (AM), Claro Dominicana (Codetel)