Carlos Slim’s America Movil Aims To Trim Mexico Market Share

Mexican billionaire and the world’s second richest man Carlos Slim’s telecommunications company America Movil SAB de CV (ADR) (NYSE:AMX) (NASDAQ:AMOV), announced Tuesday it has decided to sell assets in Mexico to lower its market share.

The announcement comes amid Mexico’s Congress passing new laws to bolster competition and impose strict regulations in the telecom-sector.

America Movil’s move to appease regulators

Latin America’s biggest mobile operator America Movil SAB de CV (ADR) (NYSE:AMX) (NASDAQ:AMOV) has 272 million mobile subscribers in the region and around 70 million subscribers to fixed-line, broadband and television service. In its regulatory filing Tuesday, America Movil said it decided to...