Mexico Lower House Gives General Approval to Landmark Telecoms Bill Miguel Angel Gutierrez and Michael O'Boyle - Reuters
go to original July 9, 2014

Mexican billionaire Carlos Slim attends a presentation of a digital platform, which was created in partnership with the Carlos Slim Foundation and online course platform Coursera, inside Soumaya museum in Mexico City January, 2014. (Reuters/Edgard Garrido)

MEXICO CITY - Mexico's lower house of Congress on Tuesday gave general approval to legislation to reform the country's phone and TV markets and rein in telecoms tycoon Carlos Slim and broadcaster Televisa.

Lawmakers passed the general framework of the bill just as Slim's phone giant America Movil said it aimed to reduce its market share in telecoms in Mexico below 50 percent, delivering a boost to the government.

Opposition lawmakers made dozens of reservations on parts of the legislation that will be debated on the floor of the lower house. Final approval was likely to stretch into the night as lawmakers work through the reserved articles of the law.

The law is expected to pass without any major changes.

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