March 7, 2014 / 6:54 PM / 4 years ago

Mexican tycoon Slim's Grupo Carso designated 'dominant' in telecoms

MEXICO CITY (Reuters) - Mexican Tycoon Carlos Slim’s conglomerate Grupo Carso said on Friday it had been declared dominant in the telecoms sector by a new watchdog, which cited the firm’s “economic interests”.

Chairman of Grupo Carso Carlos Slim of Mexico speaks during an interview with Reuters at the ITU Telecom World in Geneva October 24, 2011. REUTERS/Denis Balibouse

Slim’s telecom giant America Movil, which has about 80 percent of Mexico’s fixed-line business and some 70 percent of the mobile sector, is expected to be told it is dominant in its market by the new Federal Telecommunications Institute (IFT) as well.

Moments earlier, Slim’s financial arm Inbursa was also designated as dominant by the same watchdog.

Mexico’s Televisa, which has 60 percent of the TV market, said it had been notified that it is a major player in its market and will be forced to share infrastructure with other companies.

Reporting By Alexandra Alper

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