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MEXICO CITY, March 17 (Reuters) - A unit of Mexico's telecommunications regulator has reached an initial conclusion that broadcaster Grupo Televisa has substantial power in the country's pay-TV market, according to a document posted on its website, a finding that could lead to stiffer regulations.
The Federal Telecommunications Institute (IFT), which began the investigation in September, said its investigative arm's initial conclusion was that Televisa did have a substantial market power in pay TV.
Televisa can now respond to the regulator on its initial findings, according to Mexico's competition law.
The IFT is using new laws pushed by President Enrique Pena Nieto to foster greater competition in Mexico's notoriously concentrated telecommunications and TV markets.
It has already ruled that Televisa, which is the country's largest pay TV provider with almost 10 million subscribers, is dominant in broadcasting.
Shares in Grupo Televisa fell 0.81 percent on Tuesday to 105.36 pesos. (Reporting by Christine Murray and Tomas Sarmiento; Editing by Anupama Dwivedi)