Talk is Not Cheap: Carlos Slim's Telecom Monopoly Costing Mexican Economy Billions Ryan Villarreal - IBTimes.com
go to original April 5, 2013

Who is Carlos Slim? (AllNewsPlace)

The world’s richest man, Mexican telecom tycoon Carlos Slim, has drawn criticism from the U.S. trade office over his monopoly, which it says has stifled foreign investment and competition that could otherwise improve services and increase industry revenue.

The Office of the U.S. Trade Representative pointed out in its 2013 National Trade Estimate Report on Foreign Trade Barriers that Slim’s America Movil (NYSE:AMX), the parent company of landline service provider Telmex and wireless carrier Telcel, “dominates both the fixed and mobile segments of the Mexican telecommunications market.”

In 2012, Telmex accounted for 80 percent of landline customers and Telcel held 70 percent of Mexico’s wireless subscribers.

The trade agency added that Slim has been able to maintain “market dominance” over Mexico’s telecommunications sector due to weak regulations and a dysfunctional legal system to address such concerns.

Read the rest at IBTimes.com

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