Reuters: Regulatory News: Mexico watchdog dismisses appeal, fines Slim's Telmex -reports

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Mexico watchdog dismisses appeal, fines Slim's Telmex -reports Jul 4th 2013, 14:12 MEXICO CITY, July 4 | Thu Jul 4, 2013 10:12am EDT MEXICO CITY, July 4 (Reuters) - Mexico's competition authority dismissed an appeal by Telmex, billionaire businessman Carlos Slim's fixed-line phone company, and fined the company about $50 million for anti-competitive practices, local media reported on Thursday. The watchdog first announced the fine in February, when it ruled that Telmex had denied a rival phone company access to some of its network. About 80 percent of Mexico's fixed lines are operated by Telmex, which is a subsidiary of Latin America's biggest phone company, America Movil. An appeal by Telmex was overruled at a Federal Competition Commission meeting on Wednesday, local media reported. Separately, the commission also fined local television company Grupo Televisa 53.8 million pesos ($4.11 million) for failing to comply with certain conditions related to an acquisition.

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