Shares in Mexico's America Movil rise in early trading

MEXICO CITY, March 22 Fri Mar 22, 2013 9:40am EDT

MEXICO CITY, March 22 (Reuters) - Shares in Carlos Slim's phone company America Movil rose by more than 1 percent in early trading on Friday after Mexico's lower house of Congress passed an ambitious plan to shake up the telecommunications industry.

The bill now heads to the Senate.

Shares in America Movil have taken a knock since President Enrique Pena Nieto announced the plan at the start of last week, though investors were encouraged on Thursday by the possibility Slim could profit by entering the television market.

On Thursday, America Movil said it obtained the exclusive broadcast rights in Latin America, except Brazil, for the 2014 winter Olympic games as well as the 2016 summer Olympic games.