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Mexico drops big fine in settlement with Slim

Friday, May 4, 2012

Mexico’s antitrust commission said on Thursday that it was dropping a fine of nearly $1 billion against the local unit of the wireless carrier América Móvil, controlled by Carlos Slim, in return for a promise by the company to change its pricing practices.

The deal requires the company, Telcel, which controls about 70 percent of Mexico’s wireless market, to stop giving its customers discounted rates for calls to other Telcel users, a policy that competitors say has made it hard to compete.

Telcel also agreed to accept lower interconnection fees for calls placed into its network by mobile users from other companies.

Source: New York Times