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Mexico: América Móvil profits take hit

 |  February 10, 2016

Mexico’s, market leader in telecommunications, América Móvil, saw its profits drop by 2.9% in the last quarter of 2015, capping a 6.6% yearly drop.

“The arrival of a new international competitor a year ago has intensified competition between the three carriers and several Virtual Mobile Operators”, said the company’s quarterly financial statement.

The company justified the loss by pointing out that, on a global scale “we are smaller than our competitors in terms of income, utilities and value”. Furthermore, he argued that both AT&T and Telefónica, its main rivals, are effectively being ‘Subsidised’ by América Móvil due to the asymmetric regulations imposed by the Federal Telecommunications regulator (IFT) after declaring the company a dominant player.

Fuente: 24 horas
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