Mexico has officially signed into law its groundbreaking antimonopoly telecommunications bill, giving government officials the legislative power to force telco giants to sell off assets and promote competition within the market. Despite skepticism, government officials are assuring the seriousness of their threats to force divestures of the business of Carlos Slim, telco tycoon and the world’s richest man up until last month. Now that Mexico is underway with the landmark legislation legislation, officials say their agenda stands strong for Carlos Slim, who has dominated the Mexican telco market since 2010 with his ownership of America Movil. Slim recently sold much of his stake in the company, however, thanks to the new legislation unveiled by President Nieto last month, which put Slims behind Bill gates as the wealthiest man in the world. The government’s reforms will reportedly strip legal covers previously used by telco companies, including America Movil units, to legally fight government attempts to break-up dominant businesses.
Full Content: Forbes and Gulf Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI