America Movil sees approval of partial Telmex separation by year-end

07/19/2017 Reuters

The America Movil logo is seen at the reception area in the company's offices in Mexico City
 REUTERS/Henry Romero

MEXICO CITY (Reuters) – Mexican billionaire Carlos Slim’s America Movil (AMXL.MX) expects regulatory approval to separate part of its Telmex unit by the end of 2017 or early next year, its chief executive said on Wednesday.

Mexico’s Federal Telecommunications Institute (IFT) said in March that America Movil, controlled by the Slim family, must separate part of its network infrastructure into a new entity.

The move ratcheted up antitrust measures against America Movil, which has long been dominant in Mexico and is Latin America’s largest telecommunications company by number of subscribers.

Read more…

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s