Mexico regulator fines America Movil $5.4 million in antitrust case - Metro US

Mexico regulator fines America Movil $5.4 million in antitrust case

FILE PHOTO: The logo of America Movill is seen on a wall at the company's corporate offices in Mexico City, Mexico March 14, 2018. REUTERS/Carlos Jasso

MEXICO CITY (Reuters) – Mexico’s telecom regulator IFT said on Wednesday that it has fined billionaire Carlos Slim’s flagship company America Movil and its mobile service unit Telcel 96.8 million pesos ($5.4 million) in an antitrust case.

The IFT said it fined America Movil and Telcel for having “exclusivity agreements with Blue Label Mexico, which prevented the company from marketing or providing” services for Telcel’s competitors in the mobile telephone service.

Blue Label provides technical and banking support to retail businesses in Mexico, according to the company’s LinkedIn page.

“We have already received the notification from the IFT. We are analyzing the document and in due time we will present the challenge in accordance with law,” an America Movil spokesman said.

Blue Label did not immediately respond to a request for comment.

(Reporting by Julia Love and Anthony Esposito; Editing by Dave Graham and Himani Sarkar)

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