Mexico may force Slim’s America Movil to separate fixed unit

2/28/2017 Reuters

carlos slimMexico’s telecoms regulator has discussed forcing billionaire Carlos Slim to legally separate part of his fixed-line unit Telmex from the rest of the company, people familiar with the matter said, a move that would intensify antitrust rules against the company.

Late on Monday, the regulator’s seven-person board voted on whether to toughen, maintain or loosen rules against America Movil (AMXL.MX) and broadcaster Grupo Televisa (TLVACPO.MX), according to the three people, who declined to be named as deliberations were not public.

Reuters could not confirm whether they decided to force Slim’s company to separate off part of Telmex. However, two of the sources said they expected the proposal was on the table.

Representatives of America Movil and Televisa declined to comment. A spokesman for the regulator confirmed there was a board meeting on Monday but declined to elaborate.

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