A PYMNTS Company

Mexico: Landmark telecom overhaul given overwhelming approval in Senate

By  |  April 30, 2013
Mexico: Landmark telecom overhaul given overwhelming approval in Senate

Mexico’s Senate has formally approved for a landmark overhaul of the nation’s telecommunications industry in a move that finalizes the passing of the bill. The legislation aims to increase competition within the market and to end quasimonopolistic business practices. The reform was first introduced by politicians in early March and sees the government with increased powers to cap the dominance of the nation’s leading telecom providers like America Movil SAB – which is owned by billionaire Carlos Slim – and Grupo Televisa. According to reports, the upper house voted 108-3 to ratify a revised bill. The Chamber of Deputies passed the legislation last week. Lawmakers expect the bill to become law in June of this year.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: Fox Business

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.