Carlos Slim rejects monopoly accusations in Colombia

Sunday 28 October 2012 | 05:48 CET | News
Carlos Slim has rejected claims by lawmakers in Bogota that regulations need to be imposed on its telecoms company America Movil because it has a dominant position in the country's mobile market, Dow Jones Newswires reports. "In terms of a monopoly, in any economic activity in which two or three firms are competing, one has to be bigger than the other," Slim told reporters during a visit in the city of Cartagena. "The fact that one [company] has a bigger share is a result of customer preference."

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Categories: Mobile & Wireless
Companies: America Movil
Countries: Colombia
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