Mexico’s president signs telecoms reform rules into law

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MEXICO CITY -Mexico’s President Enrique Pena Nieto on signed into law new rules for the telecommunications and broadcasting industries are designed curb the of Carlos Slim’s America Movil and broadcaster Televisa.

The legislation, approved by Congress last week, fleshes out a constitutional reform Pena Nieto pushed Congress last year spur greater competition in the telecommunications market is dominated by Slim.

“This reform will greater competition, more and better conditions, better coverage and service quality, as well as lower and costs,” Pena Nieto said at an event in Mexico City where he spoke before officials and telecoms industry executives.
Approval of so-called laws was delayed about eight months, complicating the work of a new regulator is charged with reducing the of broadcaster Televisa, which dominates television markets, and America Movil.

America Movil, which has some 70 percent of Mexico’s mobile market and over 60 percent of fixed-lines, said last week would sell assets avoid regulations that the company lower connection costs for competitors and share infrastructure.

After finishing the telecommunications bill last week, lawmakers are now turning toward legislation that will complete the ’s most ambitious reform, the opening of Mexico’s and gas industry to private investment after a 75-year state monopoly. (Reuters)[eap_ad_3]