América Móvil restructures in anticipation of legal changes. América Móvil restructures in anticipation of legal changes.
Mexico's telecommunications industry is bracing for considerable change following América Móvil's decision this week to break up its telephone business in Mexico rather than face potentially damaging divestitures under the new competition rules. Fernando Carreño, of Von Wobeser y Sierra, S.C. in Mexico City, notes that the decision to break up América Móvil is understandable and, moreover, expected. He said that "the IFT now has significant powers to designate the 'preponderant economic agents,' and this has a major impact on the development and management of these companies' activities." Mexico's telecommunications industry is bracing for considerable change following América Móvil's decision this week to break up its telephone business in Mexico rather than face potentially damaging divestitures under the new competition rules. Fernando Carreño, of Von Wobeser y Sierra, S.C. in Mexico City, notes that the decision to break up América Móvil is understandable and, moreover, expected. He said that "the IFT now has significant powers to designate the 'preponderant economic agents,' and this has a major impact on the development and management of these companies' activities."
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