America Movil to cut market share

Comment on this story


AmericaMovil1

Reuters.

America Movil.

Mexico City - America Movil, the telecommunications giant of magnate Carlos Slim, said Tuesday it will slash its majority share of the Mexican market to below 50 percent.

The company said it wanted to stop being a “dominant economic force.”

It acted minutes after an ambitious telecoms reform, designed to trim the power of telephone and TV monopolies, was approved by the Chamber of Deputies.

America Movil includes the fixed line company Telmex and mobile phone carrier Telcel.

The former controls 80 percent of its market and the latter, 70 percent.

America Movil said in a statement it would sell assets to a “new operator” which it did not identify.

A spokesman contacted by AFP declined to say which assets would be sold.

America Movil has 292 million cell phone users in 26 countries, nearly 74 million of them in Mexico. - Sapa-AFP


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks