Friday, March 4, 2011

Billionaire vs. Billionaire in Mexico Feud over who get's to squeeze it's citizens


Billionaire vs. Billionaire in Mexico Feud - WSJ.com

MEXICO CITY—Three of Mexico's most prominent billionaires—who were once a cozy group of amigos protecting each other's backs—are now battling over how to divvy up the country's $35-billion-a-year telecommunication and TV-broadcast market.

The fight pits Carlos Slim, the world's richest man and principal owner of Mexico's biggest land-line and cellular-phone companies, against the country's top two media tycoons, Emilio Azcárraga, principal owner of No. 1 broadcaster Grupo Televisa SAB, and Ricardo Salinas, principal owner of TV Azteca SAB as well as the cellphone company Iusacell.

Mexico's economy is dominated by large companies that control their industries, and they rarely threaten each other by moving into other markets. But technological convergence has blurred the lines between the phone and TV industries, allowing both sides to invade each other's turf.

"The veneer of friendship is disappearing," says Eduardo Garcia, owner of Sentido Comun, an online business-news site in Mexico City. "Mexico's billionaires are battling over the prize using all the weapons at their disposal."

2 comments:

  1. Where does the once meaningful legacy of 'Viva Mexico" materialize even as a speck on Slim's 100-inch 'tele' ? Where are the Real Native Mexicans'(the Indigeous Ones who refuse to honor or accept the White European Spanish language? I think some people of good mind call it cultural genocide. Mexico's elite have immorally navigated their Native Mexicans out of their land and forced them to leave their country. It is a pathetic state of affairs in terms of corruption and mismanagement of a really rico nation as is Mexico. My grandfather left his homeland in Durango to escape the perils of the Mexican Revolution in 1918. I think if history repeated itself,today, he would stay to fight for La Gloria de Mexico

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