Mexico Nears Telecom Law to Boost Competition Against Slim
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An overhaul of Mexico’s telecommunications industry is one step closer to becoming law and may force billionaire Carlos Slim’s America Movil SAB to break up or face penalties for dominating the phone business.
Mexico’s lower house is set to debate the bill that was passed by the Senate over the weekend after more than six months of delays and legal challenges. An extraordinary session to discuss and approve the bill will start tomorrow, according to a statement today from Congress. If approved, it would then require the endorsement of President Enrique Pena Nieto, who has spearheaded the push for the sweeping legislation.