Regulators Rein in Billionaire Slim's Mobile Empire BusinessTech
go to original March 8, 2014

Mexico’s telecommunications watchdog unveiled a slew of regulations on Friday to claw back the massive telephone business of billionaire Carlos Slim, but said it would not order a break-up of his companies for now. (Reuters)

Mexico is trying to open up its phone and TV industries to more competition following last year’s passage of a major telecoms reform that targets the vast market shares enjoyed by Slim and the country’s no. 1 broadcaster, Televisa.

Slim’s America Movil controls about 80 percent of Mexico’s fixed-line business via its Telmex unit and some 70 percent of the mobile sector through its Telcel unit. Customers have long complained about high prices and shoddy service.

As was expected, the Federal Telecommunications Institute (IFT) declared America Movil “dominant”, and therefore needs to be subject to tougher regulation. That will include banning the company from charging national roaming fees.

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