AT&T Inc (T) - Get Report has cleared the latest hurdle in its move to acquire Time Warner Inc (TWX) after Mexican regulators gave the deal the greenlight.

The Instituto Federal de Telecomunicaciones (IFT) and the Comisión Federal de Competencia Económica (COFECE) approved the pending deal Tuesday, according to a statement from AT&T. The companies said they expect the deal to close by the end of the year.

Both AT&T and Time Warner stocks traded flat premarket Wednesday. Time Warner shares are up 5% this year, while AT&T is down 10% since the start of 2017.

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