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Mexico: Authorities halt fine against Slim, Telmex

By  |  April 4, 2013

Just days after the Federal Competition Commission, or Cofeco, issued a $53.4 million fine against telecom company Telmex, owned by the world’s richest man Carlos Slim, that fine has been appealed and the authority is now putting it on hold. The fine was issued after Cofeco found Telmex to have abused its dominant position in the market by denying rival Axtel access to parts of its network. Cofeco announced that the appeal of the fine will now require the authority to review the case; Telmex has stated that Cofeco’s findings are unfounded. Slim’s company currently controls about 80 percent of the nation’s fixed-line telecom market.

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    Full Content: Reuters

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