Mexico Telmex shareholders to vote on raising capital

MEXICO CITY, July 4 Fri Jul 4, 2014 9:35am EDT

MEXICO CITY, July 4 (Reuters) - Shareholders of Mexican telecom giant Telmex, controlled by billionaire Carlos Slim, will vote this month on whether to raise capital, the company said in a statement to the Mexican stock exchange on Friday.

Mexican Senate committees on Thursday gave their general approval to legislation needed to implement a reform of the phone and TV markets that seek to rein in tycoon Carlos Slim and broadcaster Televisa.

Parent America Movil controls about 70 percent of Mexico's mobile market and, through Telmex, it has an 80 percent market share in the fixed line business.

The extraordinary shareholder meeting will be held on July 23. (Reporting by Alexandra Alper and Cyntia Barrera; Editing by Bernard Orr)

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