Mexican magnate's companies fight regulators

MEXICO CITY (AP) — Two companies controlled by Mexican billionaire Carlos Slim filed an appeal against government regulators' decision to declare them "predominant" in telecommunications, an industry they say they don't even participate in.

The Federal Telecommunications Institute had declared the companies had majority market positions in the telecom industry early in March, even though neither is a telephone carrier or Internet provider.

The companies are Inbursa, a Slim-controlled bank, and his Grupo Carso diversified holding company. Regulators had said that was because the two firms had ties to America Movil, which does have dominant market position in areas like cell phones.

The two companies notified the Mexican Stock Exchange Monday they have filed for an injunction against the measure, which makes them subject to special restrictions.

Related Headlines


    Mexican Senate approves opening of oil sector

    Mexico's Congress approved a comprehensive energy reform that will break more than seven decades of state monopoly and dramatically expand the role of foreign and private ... 

  • Mexico lays out energy reform rules

    The Mexican government on Wednesday unveiled its proposed rules for a historic opening of the state-owned oil and energy industry, saying contracts and production licenses ... 

  • Mexico dreams face test after opening to investors

    Mexico has passed laws to open its oil, gas and electric industries to private and foreign investors after 76 years of state control. Now comes the hard part. Experts say ... 

  • Raul Cervantes Andrade, Enrique Pena Nieto, Jose Gonzalez Morfin

    Mexico opens gas, oil to foreign, private firms

    President Enrique Pena Nieto signed into law on Monday new rules governing a historic opening of Mexico's state-run oil, gas and electricity industries to foreign and private ...