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Wireless

America Movil fined USD 1 bln for monopoly practices

Saturday 16 April 2011 | 10:50 CET | News
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,

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Categories: Mobile & Wireless
Companies: America Movil / Telcel
Countries: Mexico
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