Mexico competition watchdog signs off on AT&T's Iusacell buy

Mexico's competition regulator approved AT&T's $1.7 billion purchase of local cellphone company Iusacell, with unspecified conditions. 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. America Movil is Mexico's biggest mobile operator, while Iusacell is a distant third. AT&T sold its America Movil shares in summer 2014, before announcing its deal with Iusacell in November.