America Movil agrees to pay USD 1.1 mln to settle FCC probe

Wednesday 29 June 2016 | 09:08 CET | News
Puerto Rico Telephone Company (PRTC) and parent company America Movil have agreed to pay USD 1.1 million to settle a Federal Communications Commission (FCC) investigation into foreign ownership levels. In a statement the FCC said stock purchases of America Movil by its owner Carlos Slim and his family "repeatedly exceeded the foreign ownership levels approved by the Commission". The companies have each agreed to adopt compliance plans to prevent future stock purchases by the Slim family that would exceed foreign ownership limits without first receiving the agency's review and approval.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Categories: General
Companies: America Movil / FCC / Puerto Rico Telephone
Countries: Mexico / Puerto Rico / United States
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


America Movil profits fall in Q2

Published 29 Jul 2016 12:58 CET | Latin America
America Movil reported a fall in underlying second-quarter results, hurt by the economic slowdown in Brazil and increased ...

America Movil says Oi crisis hinders Brazilian consolidation

Published 01 Jul 2016 15:22 CET | Brazil
The CEO of America Movil in Brazil, Jose Felix, said that the process of judicial recovery at rival Oi does not encourage ...

AT&T invests USD 100 mln a year in Puerto Rico networks

Published 01 Jul 2016 14:42 CET | Puerto Rico
AT&T announced that it has invested around USD 100 million a year in its Puerto Rico wireless and wireline networks over the past ...

FCC releases USD 1.7 billion in rural broadband support

Published 30 Apr 2015 18:46 CET | United States
The FCC announced another USD 1.675 billion in support for rural broadband from the Connect America Fund. Carriers can apply for ...

Claro gets USD 31.6 mln FCC funds for broadband expansion

Published 04 Nov 2013 11:38 CET | Puerto Rico
Puerto Rico's Federal Communications Commission (FCC) has awarded Claro USD 31.6 million to boost the expansion of its broadband ...

FCC authorises USD 32 mln to expand Connect America Fund

Published 31 Oct 2013 21:26 CET | Puerto Rico
More than USD 32 million in funding to provide new broadband access to more than 42,000 unserved homes and businesses in Puerto ...

Calendar   /   Industry Events

22 Oct Doro Q3 results
25 Oct Dtac Q3 2021
25 Oct Calix Q3 2021
25 Oct Facebook Q3
26 Oct Twitter Q3 2021
26 Oct Alphabet Q3 2021
26 Oct Juniper Networks Q3 2021
26 Oct Corning Q3
26 Oct TIM Brasil Q3 2021
26 Oct Siminn Q3 2021
26 Oct KPN Q3 2021
26 Oct NENT Q3 2021
26 Oct F5 Networks fiscal Q4
26 Oct Digital Realty Q3
26 Oct SK hynix Q3
26 Oct Orange group Q3 2021
26 Oct MediaTek Q3
26 Oct Microsoft fiscal Q1
26 Oct FCC meeting
26 Oct Samsung Developer Conference
26 Oct Cabsat
26 Oct MWC Los Angeles
27 Oct Telefonica Deutschland Q3 2021
27 Oct TIM Q3 2021
27 Oct Spotify Q3 2021
27 Oct Vertiv Q3
27 Oct Netgear Q3
27 Oct Twilio Q3
27 Oct Android Dev Summit
27 Oct Digital Utilities Europe 2021
::: More Calendar Items