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Mexico regulator says Slim's America Movil dominant in telco

March 07, 2014 at 06:12 pm EST

MarketScreener.com By The editorial team

MEXICO CITY (Reuters) - Mexican tycoon Carlos Slim's telecoms giant America Movil (>> America Movil SAB de CV) said on Friday it had been declared dominant in the telecoms sector by a new watchdog as widely expected, amid a government push to boost competition.

Earlier in the day the regulator also declared as dominant in telecoms Slim's bank Inbursa (>> Grupo Financiero Inbursa SAB de CV) and conglomerate Grupo Carso (>> Grupo Carso S.A. de C.V.), which both have direct or indirect stakes in America Movil. It cited their "economic interests".

Mexico is trying to spur competition in its tight-knit phone and TV industries through a wide-ranging telecoms overhaul passed last year.

(Reporting by Mexico Newsroom)

Stocks treated in this article : Grupo Carso S.A. de C.V., America Movil SAB de CV, Grupo Financiero Inbursa SAB de CV

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
GRUPO CARSO, S.A.B. DE C.V.	139.6 MXN	-0.89%	+1.86%	18.69B
GRUPO FINANCIERO INBURSA, S.A.B. DE C.V.	49.08 MXN	-2.25%	-0.65%	17.99B
AMÉRICA MÓVIL, S.A.B. DE C.V.	19.6 MXN	+0.67%	+0.36%	57.69B

Carlos Slim Helú

Founder of 5 different companies, notably: America Movil SAB de CV, Teléfonos de México SAB de CV and Grupo Financiero Inbursa SAB de CV, Carlos Slim Helú is an entrepreneur and businessperson who has been the head of 13 different companies and currently holds the position of Chairman for Minera Frisco SAB de CV, Chairman at Asociación Mexicana de Intermediarios Bursátiles AC, Chairman of Instituto Carlos Slim de la Educación, A.C., Chairman at América Telecom SA de CV, Chairman of Carso Infraestructura y Construcciones SA de CV and Chairman at Promotora del Desarrollo de América Latina SA de CV. He is also Chairman of Fundación Telmex AC, Chairman of Fundación Carlos Slim Helú AC and Chairman of Telemex Foundation AC and on the board of 10 other companies. In the past he occupied the position of Chairman for Carso Global Telecom SAB de CV, President for Bolsa Mexicana de Valores SAB de CV, Chairman at Teléfonos de México SAB de CV (he founded the company in 1990), Director at America Movil SAB de CV and Chairman Emeritus at Grupo Financiero Inbursa SAB de CV. Carlos Slim Helú received an undergraduate degree from Universidad Nacional Autónoma de México.

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Linked companies
América Telecom SA de CV América Telecom SA de CV Wireless TelecommunicationsCommunications América Telecom SA de CV provides cellular and telecommunication services. It provides telecommunication services, through its subsidiary Telcel, in the nine mobile regions into which Mexico is divided. Its other subsidiaries include Corporativo Empresarial en Telecomunicaciones, Orca, Technology Fund One, Enitel Intelsat, Construccion y Servicios Internacionales, Techtel LMDS Comunicaciones Interactivas SA, Telet SA, Americel SA, Comunicacion Celular SA, Consorcio Ecuatoriano de Telecomunicaciones SA, Telecomunicaciones de Guatemala, SA, Telcel CompUSA, Inc., TracFone Wireless, Inc., Arbros Communications, Inc. and Genesis Telecom CA, which operate in various countries in the American continent. The company was founded in December 2001 and is located in Mexico City, Mexico.	Chairman
MINERA FRISCO, S.A.B. DE C.V.	Chairman

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