Mexican billionaire Carlos Slim’s America Movil expects regulatory approval to separate part of its Telmex unit by the end of 2017 or early next year, Chief Executive Daniel Hajj said on Wednesday.
Mexico’s Federal Telecommunications Institute ruled in March that America Movil, controlled by the Slim family, must separate part of its network infrastructure into a new entity.
The move ratcheted up antitrust measures against America Movil, which has long been dominant in Mexico and is Latin America’s largest telecommunications company by number of subscribers.
Talks between America Movil and regulators on the details of the separation are ongoing, but a deal could be reached as soon as the fourth quarter of 2017 or during the first quarter of next year.
Full Content: Reuters
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