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Carlos Slim's domination under threat in Colombia

Wednesday, October 24, 2012

Billionaire Carlos Slim’s dominance of Colombia’s wireless market is under threat as lawmakers and rivals press for market-share limits and seek to prevent him from getting licenses for faster smartphone speeds.

The Colombian government is drawing up a plan for the auction of 4G radio licenses and an early document outlining the bidding process excluded Slim’s America Movil. Separately, a group of lawmakers last week proposed a bill that would restrict any one company from controlling more than 30 percent of the wireless market.

Source: Bloomberg