By Cassandra Garrison
MEXICO CITY (Reuters) – Mexico’s Supreme Court on Wednesday ruled in favor of the country’s telecoms regulator over a label that aims to curb the dominance of Carlos Slim’s telecommunications company America Movil.
The ruling deals a blow to one of the country’s largest companies in its ongoing fight to peel back restrictions.
Mexico’s Federal Institute of Telecommunications (IFT) acted within the constitution when it determined that the America Movil Economic Interest Group, made up of Telcel and other subsidiaries, is a “preponderant agent”, the court said in a statement.
That label, given in 2014, opened the door for stricter regulations under a reform of the country’s telecommunications industry, aimed at breaking up the dominance of Slim’s telecoms empire.
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