Pena Nieto Seen as Slim Breakup Victor as Energy Overhaul Looms

Billionaire Carlos Slim’s decision to break up his Mexico phone operations under threat of government sanctions is strengthening President Enrique Pena Nieto’s hand as he pushes to end an even bigger monopoly in the energy industry.

Slim announced plans to sell some of America Movil SAB’s assets yesterday as the Mexican Senate and lower house passed a bill pushed by Pena Nieto that would impose the harshest penalties the company has ever encountered. The rules build on constitutional changes he signed into law last year.