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Mexico telecoms overhaul starts to drag on America Movil

22
Jul
2014

By Christine Murray MEXICO CITY (Reuters) – Carlos Slims America Movil, Latin Americas biggest telecoms company, said on Monday that new regulation in its core Mexico market was beginning to weigh on its performance. In Mexico, where the company makes almost two-thirds of its core profit, tough new regulations that force it to share infrastructure, stop national roaming charges and slash what it charges competitors to use its network, began to take effect. Mobile voice revenues in Mexico were down 8.7 percent year- on-year due to the new rules, the company said, though data revenue growth on mobile and fixed-line slightly outweighed the fall in fixed-line and voice revenue. Earlier this month, as the new regulations were being finalized, America Movil surprised the market by saying it aimed to avoid the new rules by selling a chunk of Mexico assets to a new, probably foreign, competitor.

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