December 18, 2013
Latin America’s biggest phone company, America Movil, controlled by billionaire Carlos Slim, said on Tuesday it had connected its Mexican lines to a newly built $1.1 billion submarine cable that stretches from South America to the United States.
The cable, designed for high-speed data transmission, will boost service to America Movil’s customers, particularly in Latin America where demand for internet capacity is rising rapidly, the company said.
The cable, which took 19 months to lay, will connect the United States, Brazil, Colombia, Guatemala, Mexico, Puerto Rico and the Dominican Republic.
December 11, 2013
Mexican billionaires Carlos Slim and Emilio Azcarraga, who typically go head-to-head for phone customers and TV viewers, are taking their rivalry to the soccer field this week in their country’s championship game.
Slim, the owner of the nation’s biggest wireless carrier, is an investor in Club Leon, which is a finalist in Mexico’s national soccer league. The team is squaring off against reigning champ Club America, controlled by TV magnate Azcarraga, in a two-game series starting tomorrow in Leon’s home stadium.
Caught in the crossfire are the legions of Mexican soccer fans who won’t be able to watch because of an agreement to televise the match only on cable for the first time. After Slim’s America Movil acquired a stake in Leon last year, the club signed a broadcast-rights deal with cable’s Fox Sports.
December 6, 2013
Giant Mexican telco America Movil and broadcaster Televisa, the two companies likely to be most affected by the country’s telecoms reform, said on Thursday the regulator has told them it was determining whether they are dominant players in the sector.
The notifications are the first step in a process mandated by a telecoms reform passed by Mexico’s Congress earlier this year that gives the new Federal Telecommunications Institute (IFT) powers to clamp down on dominant players and spur competition.
November 25, 2013
Legislation to implement a major overhaul of Mexico’s telecommunications industry will not be approved until early next year, pushing back a deadline set for December, two senior lawmakers said on Saturday.
The secondary laws set out the fine print for a telecoms reform promulgated in June by President Enrique Pena Nieto which gives regulators sweeping powers to rein in billionaire Carlos Slim’s telecoms giant America Movil and dominant broadcaster Televisa.
November 12, 2013
Mexico’s new telecommunications watchdog said on Monday it may identify this month which companies dominate the local market, likely paving the way for tougher regulation against telecom company America Movil and broadcaster Televisa.
Gabriel Contreras, president of the Federal Telecommunications Institute (IFT), said the watchdog would in the near future inform the companies it had determined to be dominant, adding that it could be as soon as this month.
October 17, 2013
The Washington Post, 10/17/2013
Mexican carrier America Movil said Wednesday it has abandoned plans to tender an offer for Dutch telecom Royal KPN NV.
America Movil’s bid for KPN hit a major speed bump in late August when an independent group established to protect the company’s interests, the KPN Foundation, branded the takeover attempt as hostile.
October 11, 2013
Mexico’s new telecoms reform should be able to reduce tycoon Carlos Slim’s share of the local mobile phone market to less than 50 percent in the next five years, an influential opposition lawmaker said on Wednesday. The law, broadly backed across the political spectrum in Mexico, targets Slim’s giant phone company America Movil and rival Emilio Azcarraga’s broadcaster Televisa, powerful symbols of the power wielded by a select group of families over Latin America’s second biggest economy.
September 11, 2013
Mexico’s Senate on Tuesday approved seven nominees to head a new telecommunications regulator created by a sweeping sector overhaul that seeks to boost competition and tame billionaire Carlos Slim.
The regulator, known as Ifetel, will replace a weaker regulatory agency and have new powers to police a telecommunications market dominated by Slim’s America Movil and Televisa. America Movil controls some 80 percent of the fixed line business in Mexico and about 70 percent of its cell phone market. Televisa has more than 60 percent of the TV market.
July 12, 2013
Mexican billionaire Carlos Slim is interested in investing in oil and natural gas exploration in Guatemala, a Guatemalan presidential spokesman said on Thursday.
Slim, who briefly visited the country on Wednesday, met with President Otto Perez to discuss investment options, which also include building a train line between southern Mexico and Guatemala, said spokesman Francisco Cuevas.”He expressed interest in exploring for natural gas and oil as soon as possible,” Cuevas told Reuters. “He also said that he would like to use public and private funds to build a rail line.” Slim, who owns telecoms company America Movil and topped Forbes magazine’s March list of the world’s richest people, runs his oil business through conglomerate Grupo Carso .
June 27, 2013
Telefonica SA’s Mexican unit, the nation’s second-largest phone company, wants to triple its share of the industry’s wireless revenue, in part by selling more smartphones and Wi-Fi services and targeting small businesses. The company, which began operating in Mexico in 2001, currently accounts for 12 percent of the wireless market’s revenue, leaving plenty of room for growth, said Francisco Gil Diaz, president of Telefonica Mexico.
“That’s an extremely low share,” he said in an interview yesterday in New York. “We have to increase that share to at least 30 percent in the next few years.” The move would escalate competition with America Movil SAB, the phone company controlled by billionaire Carlos Slim. America Movil accounts for about 70 percent of mobile-phone subscribers, leaving Telefonica Mexico with about 20 percent — though legislation passed this month that may rein in Slim’s dominance. On a revenue basis, the disparity is even greater, putting pressure on Telefonica to wring more money from customers.