In earlier versions of ArM such a spell did exist. But in ArM5 p.149 Thoughts within Babble allows only to read minds to understand spoken communication. This allows a quick-thinking magus to conclude the meaning of some spoken words, and thus make simple utterings in a rudimentary and mostly ungrammatical fashion.
By combining this with CrMe magic (ArM5 p.148 box Creo Mentem Guidelines Level 4 Guideline, refined in A&A p.32 box Creo Mentem Guidelines) to put a thought directly into a target's mind, basic communication can be established.
Taking a cue from ArM5 p.105 Sample Powers Mental Communication and creating CrMe devices for direct mind-to-mind communication between a few intelligent beings is also possible, rather easy, and gets the language issue out of the way completely.
But knowledge of the spoken language in question, in the sense of acquiring a temporary Language Ability of any level, cannot be gained thus by magi from 1220 Mythic Europe. See for this HoH:S p.68ff Memory and this recent thread.
Cheers