Slim's America Movil Asset Sale Fans Hope For Cheaper Phone Bills

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Slim's America Movil Asset Sale Fans Hope For Cheaper Phone Bills

by Wochit 0:49 mins

Slim's America Movil Asset Sale Fans Hope For Cheaper Phone Bills

by Wochit 0:49 mins

A quick sale of a block of billionaire Carlos Slim's vast telecoms empire to a foreign company may be the fastest path to lower prices, broader coverage and better service for Mexican consumers. Controlling around 70 percent of Mexico's mobile market and more than 60 percent of landlines, Slim's America Movil has been blamed for overcharging consumers for patchy service since he bought a former state-run phone monopoly in the early 1990s. But industry experts said the asset divestiture plan America Movil announced last week to escape tougher Mexican regulations could shake up the telecommunications market by bringing in foreign telecom companies that could accelerate price drops.

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