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In twist, Mexico says non-telecom Slim firms dominate telecoms

08
Mar
2014

By Alexandra Alper and Tomas Sarmiento MEXICO CITY (Reuters) – Mexicos telecoms regulator on Friday declared two of billionaire Carlos Slims major financial and industrial companies dominant in telecommunications, but has yet to slap the tag on Slims flagship telecom company. It is widely expected that Slims telecom company America Movil will be declared dominant, or having an outsized share in its market, although a spokesman said the company has not yet been notified. Mexico is trying to spur competition in its tight-knit phone and TV industries through a wide-ranging telecoms overhaul passed last year. The newly empowered Federal Telecommunications Institute (IFT) deemed Slims bank Inbursa and conglomerate Grupo Carso, which both have direct or indirect stakes in America Movil, dominant in telecoms given their economic interests, the companies said on Friday.

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