Mexico president sending telecom regulation to Congress

Reuters News
Posted: Mar 24, 2014 2:23 PM

MEXICO CITY (Reuters) - Mexican President Enrique Pena Nieto said he will send legislation to Congress on Monday to flesh out a reform approved last year that seeks to curb the power of phone mogul Carlos Slim and the country's top broadcaster Televisa.

Slim's America Movil and Televisa have dominated their industries in Mexico for years. The legislation, known as secondary laws, expands on a broader constitutional reform passed last year.

According to a draft of the laws Reuters obtained last month, the legislation will give Mexico's new telecom regulator extensive powers to police dominant companies, right down to the prices and discounts they offer.

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(Reporting by Luis Rojas and Elinor Comlay)