Summary America Movil is Mexico's biggest mobile operator, while Iusacell is a distant third.
Mexico City (Reuters) - Mexico s competition regulator on Sunday approved AT&T Inc s $1.7 billion purchase of local cellphone company Iusacell, with unspecified conditions, a statement said.
The Federal Competition Commission said it set conditions on the deal to "avoid risks to the process of competition" in markets where Iusacell would compete with Carlos Slim s America Movil, which previously counted AT&T as a minority investor.
AT&T sold its America Movil shares in the summer, before announcing its deal with Iusacell in November.
Iusacell was previously being operated as a joint venture between Mexico s biggest broadcaster Televisa and Grupo Salinas, a holding company belonging to tycoon Ricardo Salinas.
The competition watchdog also said in the statement 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.
Mexico s government earlier this year implemented reforms to shake up its telecom and broadcast market by weakening the dominance of broadcaster Televisa and billionaire Slim s cellphone and fixed-line company America Movil.
