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Mexico: Landmark telecom overhaul given overwhelming approval in Senate

 |  April 30, 2013

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.

Full Content: Fox Business

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