News Column

Carlos Slim to Trim Assets

July 9, 2014

Associated Press

MEXICO CITY (AP) The lower house of Mexico's congress has approved tough restrictions on dominant companies in the country's telephone and television sectors.

The new rules must still be signed into law, but they have already forced the nation's leading telephone carrier to offer to sell off part of its business.

The lower house passed enabling legislation Wednesday that imposes fee limits and infrastructure-sharing requirements on any company that controls more than half the market in sectors like telephones, Internet or television.

The rules were already passed by the Senate. They give teeth to Mexico's 2013 telecom reforms.

Billionaire Carlos Slim's America Movil phone company announced Tuesday that it will sell off unspecified assets and businesses to get the company below the 50 percent limit.

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Original headline: Mexico passes telecom reform laws


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