The Board of Directors (BD) of the Competition Superintendence (CS) authorized the acquisition of Telefonica Multiservicios´ clientele portfolio and certain assets by AMNET, after having determined that said operation would not create a significant limitation on the current competition. AMNET is obliged to annually report the benefits of the above cited acquisition to the consumers (its clientele).

1. Press Release C. 14-12
El Salvador, April 30th, 2012
CS authorized acquisition of Telefonica
Multiservicios´ clientele and assets by AMNET
The Board of Directors (BD) of the Competition Superintendence (CS) authorized the acquisition of
Telefonica Multiservicios´ clientele portfolio and certain assets by AMNET, after having determined that
said operation would not create a significant limitation on the current competition. AMNET is obliged
to annually report the benefits of the above cited acquisition to the consumers (its clientele).
By means of the authorized acquisition, AMNET will purchase Telefonica
“The BD authorized this
acquisition pursuant to
Multiservicios´ clientele portfolio and certain assets directly related with
the technical, legal, and rendering land telephony and internet services.
economic analysis
carried out which The technical, legal, and economic analysis carried out by the CS
determined that this included the review of market´s concentration levels, entry barriers to
operation would not competitors¸ and the existence rivalry level in order to determine if, as a
significantly affect consequence of the acquisition, probability of committing anticompetitive
competition in the practices or any other competition limitation could increase. Pursuant to
analyzed markets”, the said analysis, the BD of the CS determined that this acquisition would
informed Francisco Diaz not significantly affect competition.
Rodriguez, Chairman of
the BD of the CS. Furthermore, the BD noticed that this acquisition would have
considerable potential to create benefits to the consumers. Nevertheless,
the BD sought necessary to insure that the clientele portfolio included in the operation should be
informed of the purchase conditions, be aware of their rights, and have the liberty to change to a
different telephone company, if convenient.
Considering the aforementioned, the BD of the CS ordered AMNET to:
• During two years, annually file quantifiable evidence of the direct benefits, resulting from this
acquisition, for the consumers who are the clientele portfolio.
• Suspend in all the contracts between Telefonica Multservicios and its clientele in force when the
operation is completed, any type of clause that penalizes the anticipated termination of said
contracts for those customers who which to terminate them.

2. • Publish enough information concerning this operation in order for all the interested to know
about its benefits such as the liberty to change to other telephone companies without any
penalty.
• Publish all other information necessary for the clients who wish to terminate their contracts with
Telefónica Multiservicios to do so. This information must be published during three months after
the acquisition has been finalized.
Background
December 23rd, 2011 The CS received the acquisition authorization request.
January 3rd, 2012 The BD of the CS requested pending information from AMNET.
January 25th, 2012 AMNET filed complementary information.
February 1st, 2012 The BD of the CS admitted the authorization request for analysis.
April 24th, 2012 The BD of the CS authorized the acquisition.