Saturday, June 18, 2011

Telmex Says Mexico Rural Rules to Cut Investments, Plans Appeal - Bloomberg

Telmex Says Mexico Rural Rules to Cut Investments, Plans Appeal - Bloomberg

Telmex and its parent company, billionaire Carlos Slim’s America Movil SAB, are contending with a series of government decisions to reduce their dominance of Mexico’s phone market. The telecommunications commission in March more than halved the fees America Movil can charge rivals to complete calls to its Mexican wireless unit.

“We can’t invest just to lose money,” Arturo Elias, Slim’s son-in-law and Telmex’s communications director, said on the conference call. The government-set fee “is way, way below our costs,” he said.

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