America Movil's Telmex granted extension

In a favourable turn of events, Telmex, the fixed-line telephone subsidiary of the Mexican telecom giant America Movil has been granted extended validity for its concession by Mexican telecom regulator, the IFT.

Meanwhile, the Mexican telecom market has become intensely competitive. Beside incumbent firm Telefonica, U.S. telecom behemoth AT&T has entered into the fray.

Source: Nasdaq