Mexico makes its own law of means.
The main target is the media empire of Carlos Slim, the world's richest man; according to Forbes magazine, Slim reached US$73 billion last year; his fortune is largely due to the Televisa TV network and the America Movil telecommunications company, which may be broken up after the approval of the bill that aims to reshape the Mexican communications sector.
247 - A bill was introduced last Monday that threatens the communications empire of Mexican Carlos Slim, the man named by 'Forbes' magazine as the world's richest billionaire. The bill, which aims to reshape Mexico's communications sector, foresees the creation of a federal agency to regulate the sector and could even break up companies that control more than 50% of the market in which they operate.
Owner of the Televisa TV network and the America Movil telecommunications company, Slim reached a fortune of US$73 billion last year, according to Forbes, and is the main target of the bill. Televisa holds 70% of the television audience in Mexico, while America Movil holds 70% of Mexican mobile phone subscribers and 80% of fixed-line telephony – meaning they do not fall within the limits stipulated by the bill.
According to Mexico's Minister of Communications and Transportation, Gerardo Ruiz Esparza, a future Federal Telecommunications Institute will have the power to regulate competition in the telephony and transmission sector. Furthermore, the new agency "will have the power to determine the divestment of assets by market participants to the extent necessary to eliminate anti-competitive effects."
Incoming
The bill also provides for the elimination of limits on foreign investment in fixed-line telephony and satellite providers. Another new feature: it authorizes foreigners to have a shareholding in television networks, but with a maximum of 49%. It also foresees the establishment of operating procedures for cable TV companies and satellite companies with television networks, to ensure greater competition.