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Mexico: Regulator will not impose tougher rules against billionaire Carlos Slim’s America Movil

By  |  March 29, 2015
Mexico: Regulator will not impose tougher rules against billionaire Carlos Slim’s America Movil

Mexico’s telecom regulator will not necessarily impose tougher rules against billionaire Carlos Slim’s America Movil if it does not go ahead with a plan to sell off assets, the head of the regulatory agency said in an interview on Friday.

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    Mexico’s Congress last year passed sweeping telecoms reform aimed at curbing America Movil’s industry dominance, prompting the company to say it would sell a chunk of assets to reduce its market share to below 50 percent.

    Gabriel Contreras, head of the Federal Telecommunications Institute (IFT), said on Friday it would not necessarily take new action against America Movil in a revision of the industry next year if the company has not made those sales.

    “The problem of the market is not the size of the operator. This is a market with economies of scale, it’s capital intensive. The problem is if market power is abused,”

     

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