Just days after the Federal Competition Commission, or Cofeco, issued a $53.4 million fine against telecom company Telmex, owned by the world’s richest man Carlos Slim, that fine has been appealed and the authority is now putting it on hold. The fine was issued after Cofeco found Telmex to have abused its dominant position in the market by denying rival Axtel access to parts of its network. Cofeco announced that the appeal of the fine will now require the authority to review the case; Telmex has stated that Cofeco’s findings are unfounded. Slim’s company currently controls about 80 percent of the nation’s fixed-line telecom market.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Conducts First-Ever Raids on a Company Under Foreign Subsidies Regulation
Apr 23, 2024 by
CPI
FTC Moves to Ban Non-Compete Agreements, Aiming to Boost Labor Mobility
Apr 23, 2024 by
CPI
Federal Judge Nods at $418M Deal in Real Estate Antitrust Suit
Apr 23, 2024 by
CPI
Mexican Watchdog Probes Amazon and Mercado Libre Over Loyalty Bundles
Apr 23, 2024 by
CPI
Competition Commission of India to Probe AI Landscape for Competition
Apr 23, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI