Mexico's America Movil fined 1.3 billion pesos by telecoms regulator [Reuters]
America Movil, S.A.B. de C.V. American Depositary Shares (each representing the right to receive twenty (20) Series B Shares (AMX)
Last america movil, s.a.b. de c.v. american depositary shares (each representing the right to receive twenty (20) series b shares earnings: 4/29 04:01 pm
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Source: Reuters
Mexico's America Movil fined 1.3 billion pesos by telecoms regulator MEXICO CITY (Reuters) - America Movil, the telecoms giant controlled by the family of Mexican billionaire Carlos Slim, said in a regulatory filing on Monday that one of its subsidiaries had been fined 1.3 billion pesos ($69.53 million) by Mexico’s telecoms regulator. The regulator said the fine was for failing to comply with a requirement to share information about the availability of its telecom infrastructure, such as posts and ducts, America Movil ( AMXL.MX ) reported. America Movil criticized the regulator’s move, saying it reflected a “lack of due process,” and said the company would exercise “all legal remedies to challenge it.” “This arbitrary, illegal and disproportionate fine affects the legal certainty in a sector that requires important investments,” the company said in a statement. The fine was levied against one of America Movil’s subsidiaries, Telefonos del Noroeste, known as Telnor. A spokeswoman for
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