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Slim's Mexican telecoms empire faces a shake-up

Thursday, March 7, 2013

Mexico's phone and television markets, long dominated by Carlos Slim and his rivals, are facing a game-changing shakeup that could be announced in days, according to one of the political leaders tasked with drafting the reform.

"This reform changes the whole board game," Gustavo Madero, chairman of the conservative opposition National Action Party, PAN, said in an interview.

Slim, the world's richest man, controls about 70 percent of Mexico's cell phone market and about 80 percent of the fixed lines through his phone giant America Movil.

Source: Reuters