Carlos Slim's son slams Mexico's new telco rules - papers
MEXICO CITY, March 27 (Reuters) - Carlos Slim Domit, son of Mexican billionaire Carlos Slim and chairman of family-controlled America Movil, has criticized a reform bill seeking to increase competition in the sector dominated by the phone company, according to newspaper reports.
"We don't understand why a company has to give for free, without any revenue, services to its competitors," Carlos Slim Domit told a conference in Mexico City on Wednesday, according to local newspaper reports.
The bill includes provisions for so-called asymmetric regulation of America Movil, Latin America's biggest phone company, which was declared a dominant company by the new telecom regulator earlier this month.
Under the rules, America Movil will have to allow rival phone operators to connect to its networks for free.
America Movil has about 70 percent of Mexico's mobile lines and about 80 percent of the country's fixed lines through its subsidiary, Telmex.
The company is also looking closely at rules in the bill that would force it to wait two years before offering television services, Slim Domit said.
Shares in America Movil have fallen 5.5 percent since the bill was presented to Congress on Monday. The shares were down 0.16 percent at 12.88 pesos in morning trading on Thursday.
The bill provides the fine print detailing how a wide constitutional reform approved last year will shake up Mexico's broadcast, Internet and phone businesses. (Reporting By Alexandra Alper and Elinor Comlay; Editing by Sophie Hares)
© Thomson Reuters 2017 All rights reserved.