Post by ukipa on May 3, 2012 19:14:52 GMT 4
America Movil $1 Billion Fine Overturned by Antitrust Agency
America Movil SAB (AMXL), the wireless carrier controlled by billionaire Carlos Slim, won an appeal striking down a fine of almost $1 billion by Mexico’s antitrust agency, warding off a move by regulators to contain his power.
The agency decided in a vote on April 30 to nullify its decision last year to penalize the company for monopolistic practices, Mexico City-based America Movil said last night in a statement.
In exchange for dropping the fine, America Movil had offered to reduce the fees it charges rivals to connect calls and to offer plans that included some minutes for calls to any network at the same rate. The company didn’t say in the statement whether the antitrust agency had accepted those offers and provided no other detail.
Read full article...
www.bloomberg.com/news/2012-05-03/america-movil-says-mexico-agency-reverses-1-billion-fine.html
America Movil SAB (AMXL), the wireless carrier controlled by billionaire Carlos Slim, won an appeal striking down a fine of almost $1 billion by Mexico’s antitrust agency, warding off a move by regulators to contain his power.
The agency decided in a vote on April 30 to nullify its decision last year to penalize the company for monopolistic practices, Mexico City-based America Movil said last night in a statement.
In exchange for dropping the fine, America Movil had offered to reduce the fees it charges rivals to connect calls and to offer plans that included some minutes for calls to any network at the same rate. The company didn’t say in the statement whether the antitrust agency had accepted those offers and provided no other detail.
Read full article...
www.bloomberg.com/news/2012-05-03/america-movil-says-mexico-agency-reverses-1-billion-fine.html