UPDATE 1-Mexico regulator to sanction 5 mobile phone providers | Reuters
Mexico's telecom regulator on Wednesday proposed sanctions on five mobile phone providers for substandard service.
Two of tycoon Carlos Slim's phone companies, wireless leader America Movil and fixed-line giant Telefonos de Mexico, have come under scrutiny from authorities in a bid to curb their power in the market and allow other competitors to grow.
Just last week Cofetel slashed connection fees that Telmex charges on long-distance calls, particularly in rural and suburban areas where the company is the only operator.
In April, Mexico's Federal Competition Commission slapped a $1 billion fine on America Movil, accusing it of abusing its dominant position in the market.
America Movil is the biggest cellphone provider in Mexico and Latin America and Slim, earning a fortune on the back of his telecommunications empire, is the world's richest man.