Slim plans big drive into television markets

Billionaire Carlos Slim is preparing an aggressive push into Mexico’s television market to take advantage of new telecommunications legislation, even as the changes threaten his dominance in the phone business.

While Slim’s wireless carrier, America Movil, is one of the chief targets of a bill to create more competition in Mexico, proposals to give consumers more options in cable and satellite TV will benefit the company, Chief Financial Officer Carlos Garcia-Moreno said last month.

The bill is under Senate review after passing the lower house of Congress in March.


Source: Bloomberg