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Mexico: Authorities deal another blow for Carlos Slim

By  |  April 5, 2013

America Movil SAB, mobile telecom company controlled by billionaire Carlos Slim, has reportedly lost its appeal of a 2010 ruling that declared the company dominant. America Movil currently has 70 percent of Mexico’s wireless subscribers. As a result of the Federal Competition Commission’s rejection of America Movil’s appeal, the government now has the ability to impose restrictions on the business even before new reforms for the industry go into effect. Mexico’s current law allows the government to be able to control prices and relationships with competitors to the dominating business. According to the report, America Movil is now weighing its legal options. The news comes just days after the Federal Competition Commission issued a fine against Slim’s Telmex for abuse of dominance. The company has appealed that fine.

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