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El Salvador rejects America Movil bid to buy Telefonica unit

SAN SALVADOR, May 21 (Reuters) - El Salvador's competition authority on Tuesday said it had rejected a bid by Mexican telecoms company America Movil to acquire the local unit of Spanish rival Telefonica, arguing the planned takeover did not meet anti-trust requirements.

America Movil, which is controlled by the family of Mexican billionaire Carlos Slim, did not immediately reply to a request for comment. (Reporting by Nelson Renteria; Editing by Dave Graham)