Ecuador Takes Sweetened America Movil Offer

America Movil, the Mexico-based LatAm telecom giant, has agreed to pay $480m to the Ecuadorean government to renew its local mobile phone concession for 15 years, according to Ecuador’s telecom regulator Senatel. The move comes a few days after Senatel had rejected an initial $307m offer and announced that the operator was leaving the country in August. The government and the mobile operator expect to close the transaction Wednesday. America Movil, which operates in Ecuador through its subsidiary Porta, controls almost 70% of the domestic market.