Brazil's antitrust watchdog, the Conselho Administrativo de Defesa Econômica, or CADE, approved AT&T Inc.'s planned purchase of Time Warner Inc. with certain conditions.
The targeted conditions address specific issues that CADE identified. The agency's approval does not require the sale or divestiture of any AT&T or Time Warner assets, according to an Oct. 18 press release.
The deal has secured approvals from Mexican and Chilean regulators. With CADE's approval, AT&T and Time Warner have received all required merger approvals outside of the U.S.
The deal, which is expected to close by the end of the year, is under review by the U.S. Department of Justice.
AT&T in October 2016 agreed to buy Time Warner in a cash-and-stock deal with a total equity value of $85.4 billion and a total transaction value of $108.7 billion, including Time Warner's net debt.