Mexico watchdog dismisses appeal, fines Slim's Telmex -reports

MEXICO CITY, July 4 Thu Jul 4, 2013 10:12am EDT

MEXICO CITY, July 4 (Reuters) - Mexico's competition authority dismissed an appeal by Telmex, billionaire businessman Carlos Slim's fixed-line phone company, and fined the company about $50 million for anti-competitive practices, local media reported on Thursday.

The watchdog first announced the fine in February, when it ruled that Telmex had denied a rival phone company access to some of its network.

About 80 percent of Mexico's fixed lines are operated by Telmex, which is a subsidiary of Latin America's biggest phone company, America Movil.

An appeal by Telmex was overruled at a Federal Competition Commission meeting on Wednesday, local media reported.

Separately, the commission also fined local television company Grupo Televisa 53.8 million pesos ($4.11 million) for failing to comply with certain conditions related to an acquisition.

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Comments (1)
Syanis wrote:
$50 million is nothing for him and he still makes far more profits that cover that loss with ease with his anti competition monopolies.

Jul 04, 2013 12:52pm EDT  --  Report as abuse
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