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Mexico telecoms regulator reins in Slim and his empire

08
Mar
2014

By Tomas Sarmiento and Christine Murray MEXICO CITY (Reuters) – Mexicos telecommunications watchdog on Friday slapped regulations on Carlos Slims telephone company America Movil and two of his financial and industrial companies, as it seeks to rein in the multi-billionaire and boost competition. Mexico is trying to open up its phone and TV industries following the passage last year of wide-ranging telecoms reform meant to claw back the vast market shares enjoyed by Mexicos media players. America Movil controls about 80 percent of Mexicos fixed-line business via its Telmex unit and some 70 percent of the mobile sector through its Telcel unit. As was widely expected, the Federal Telecommunications Institute (IFT) declared America Movil dominant, meaning it has an outsized share of the market.

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