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Mexican telecoms shake-up eyes Slim and Televisa

Tuesday, March 12, 2013

Mexico's government has threatened the country's telecommunications giants with forced asset sales, unveiling a plan to loosen billionaire Carlos Slim's hold on the telephone market and curb broadcaster Televisa's dominance of the airwaves.

The long-awaited bill seeks to shake up the telecoms sector by allowing increased foreign ownership of media and phone companies, and giving regulators the power to make players controlling more than 50 percent of the market sell assets.

"The purpose of these measures is to free up the sector's potential, and do it as quickly as possible," President Enrique Peña Nieto said as he presented the plan on Monday.

Source: Reuters