Slim's America Movil makes $1 billion payment in Colombia case

Mexican billionaire Carlos Slim’s America Movil said on Tuesday that it had complied with a Colombian arbitration ruling ordering it to pay the government $1.08 billion for wireless telecommunication assets used in the South American nation.

However, America Movil’s Colombian unit, Comcel, continues to challenge the arbitration award, the company said in a statement.

Source: Reuters