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Mexico’s lower house generally approves telecoms bill

09
Jul
2014

Mexicos lower house of Congress gave general approval on Tuesday to legislation that aims to rein in telecoms tycoon Carlos Slim and broadcaster Televisa to encourage more competition in the phone and TV markets. The approval was a victory for President Enrique Pena Nieto, who has faced political opposition and a sluggish economy this year after he pushed a series of reforms through Congress in 2013 that were designed to spur faster growth in Mexico. Just as lawmakers voted to pass the bills general framework, his telecoms conglomerate America Movil said it would be willing to sell assets to reduce its market share below 50 percent if it could escape tougher regulations. Opposition lawmakers made dozens of reservations on parts of the legislation that will be debated on the floor of the lower house.

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