Mar 18, 2013

Mexico's Slim welcomes planned telecoms reform

Chicago Tribune 
March 17, 2013

MEXICO CITY (Reuters) - Mexican telecoms tycoon Carlos Slim, whose wealth has taken a knock since the government on Monday unveiled a reform bill to overhaul the industry he dominates, said on Sunday he welcomed the plan as a boon for competition.

Hailed as the biggest shake-up of Mexico's phone and television market in decades, the bill aims to boost foreign competition and give regulators the power to force firms to sell assets if they have more than 50 percent of the market.

Slim, the world's richest man, controls about 80 percent of Mexico's fixed line business and 70 percent of the mobile market through his phone company America Movil. He declined to discuss the impact of the reform on his firm at an event in Mexico City.  Read more. 

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