July 8, 2014 / 10:11 PM / in 4 years

America Movil aims to cut market share below 50 pct in Mexico

MEXICO CITY, July 8 (Reuters) - Billionaire Carlos Slim’s telecommunications giant America Movil on Tuesday said its board of directors had approved measures to reduce its market share below 50 percent in Mexico.

America Movil, which runs mobile, internet and fixed line businesses, said that its board decided to sell certain assets in favor of an operator independent of America Movil.

The divestitures would be conditional on the company no longer being declared a dominant player and subject to tougher regulations from a new market regulator, it added. (Reporting by Dave Graham and Michael O‘Boyle)

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