America Movil fined USD 1 bln for monopoly practices

News Wireless Mexico 16 APR 2011
America Movil fined USD 1 bln for monopoly practices
America Movil announced it has been ordered to pay a MXN 11.99 billion (approximately USD 1 billion) fine by Mexican competition watchdog Federal Competition Commission (CFC) for alleged monopoly practices. The fine follows a four-year investigation carried out by the CFC into Telcel, America Movil's mobile brand in Mexico. According to a filing with the Mexican stock exchange, the fine is related to a probe begun in November 2006 over alleged monopoly practices associated with mobile call termination on the Telcel network. "America Movil and its subsidiary Telcel are analyzing the decision, and plan to appeal", the company said.

Categories:

Mobile

Companies:

America Movil,  Telcel

Countries:

Mexico

Tags:

Voice services, Wholesale, Legislation - Lawsuits

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