Mexico govt says America Movil plan may improve competition
MEXICO CITY, July 8 (Reuters) - Mexico's Transport and Communications Ministry said on Tuesday that a proposal by billionaire Carlos Slim's America Movil to cut its share of Mexico's telecommunications market below 50 percent could improve competition in the industry.
"The Transport and Communications Ministry declares that this decision could transform competition in the telecommunications sector with improved quality and better prices for services to end users," it said in a statement.
America Movil said earlier that its board voted to divest assets to reduce its market share in order to avoid tough new regulations designed to curb Slim's long-held dominance of the sector. (Reporting by Dave Graham and Michael O'Boyle)
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