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Mexico telecoms bill gives regulator powers to curb Slim, Televisa

March 24, 2014 at 04:29 pm EDT

MarketScreener.com By The editorial team

Mexico telecoms bill gives regulator powers to curb Slim, Televisa

MEXICO CITY (Reuters) - Mexico's government on Monday proposed giving new telecommunications regulator IFT sweeping powers to police the operations of dominant telecoms companies and TV broadcasters, right down to their prices and discounts.

The regulator will have sweeping powers to order companies to sell assets, revoke concessions and share networks and infrastructure, according to a bill sent to Congress.

It will also be able to force companies to seek approval annually for interconnection and infrastructure-sharing terms, in line with a draft obtained by Reuters last month.

Major market players like billionaire Carlos Slim's phone and internet giant America Movil, his fixed line operator Telmex and TV broadcaster Televisa have been declared dominant by the regulator.

(Reporting by Mexico Newsroom)

Stocks treated in this article : Grupo Televisa SAB, America Movil SAB de CV, TV Azteca SA 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 TELEVISA, S.A.B.	9.73 MXN	-0.92%	-10.16%	1.59B
AMÉRICA MÓVIL, S.A.B. DE C.V.	19.6 MXN	+0.67%	+0.36%	55.4B
TV AZTECA, S.A.B. DE C.V.	0.5 MXN	-1.19%	-.--%	87.15M

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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