Telefonica SA Seeks USD 1 Billion From Mexico Over Phone Fees-Reuters

Reuters reported that Telefonica SA has lodged a USD 1 billion-plus complaint with a World Bank tribunal charging that Mexico's telecom regulator is making investment too costly. Telefonica SA says that by lowering fees it can charge rivals to connect to its network, Mexico's regulators affected the Company's ability to invest in the country. That violates an investment treaty between Mexico and Spain, according to an initial notice sent to Mexico's economy ministry.