Legislators back telecoms shake-up in Mexico

A major reform bill to increase competition in Mexico's phone and television markets on Thursday cleared its first hurdle when it was approved by a committee in the lower house of Congress with no changes.

The reform, which aims to curb the dominance of Carlos Slim's América Móvil and broadcaster Televisa, is expected to be presented to the floor of Mexico's lower house for a vote next week.

América Móvil controls about 70 percent of Mexico's mobile phone market and about 80 percent of its fixed lines. Televisa has about 60 percent of the country's broadcasting market.

Source: Reuters