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Mexico telecom bill passes lower house

Friday, April 26, 2013

Mexico’s lower house sent a bill to increase competition in telecommunications back to the Senate, paving the way for tougher regulators to challenge the dominance of America Movil and Grupo Televisa.

The proposal, also backed by President Enrique Peña Nieto, must be approved a second time by the Senate because of a small change in wording in the lower house version of the bill.

Then it requires the sign-off of a majority of legislatures in Mexico’s 31 states and capital. Under the bill, new government agencies would have the power to force companies that control more than 50 percent of the market to share or even sell assets.

Source: Bloomberg