A PYMNTS Company

Mexico: Consumers hope Carlos Slim crackdown will lower bills

 |  July 16, 2014

As Mexico continues to reign in the dominance of Carlos Slim and his leading America Movil wireless operations, reports say consumers across the nation are hoping the government action will lead to lower telco bills.

According to reports, Slim is eyeing ways to divest significant portions of his assets in the nation after new legislation allowed officials to declare America Movil dominant in both landline and wireless markets. Those divestitures, reports say, would likely be the fastest way to lower costs for consumers.

Those divestitures could further allow for foreign entry in Mexico’s market to accelerate. The overhauls will likely pressure the market to lower costs, reports say.

America Movil announced only days ago that it is seeking sales to reduce its market share to under 50 percent to avoid regulatory measures that would force price cuts on the business. According to reports, America Movil controls more than 60 percent of landlines and about 70 percent of wireless phones across the nation.

Full content: Reuters

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