Latest news with #Telcel
Tahawul Tech
4 days ago
- Business
- Tahawul Tech
AT&T considers selling-off its Mexican business
AT&T has met with advisors to sell-off its mobile business in Mexico for more than $2 billion after competing against billionaire Carlos Slim for years. Bloomberg reported discussions are ongoing as a final decision is yet to be made. It also stated there's no guarantee AT&T will find a buyer. A representative for AT&T told Mobile World Live the company does not comment on rumours or speculation. In 2014, AT&T paid $2.5 billion to buy Mexican mobile operator Iusacell from Grupo Salinas and then announced a $1.9 billion deal to acquire the Mexican business of NII Holdings a year later. The news agency stated AT&T has about 18 per cent of the mobile market share in Mexico, compared to Telcel's 64 per cent. Telcel is part of Mexico-based America Movil which is controlled by Slim and his family. Bloomberg noted AT&T has invested more than $10 billion in Mexico. As of December 2024, it had more than 23 million total subscribers. During last month's Q2 earnings, the mobile operator reported revenue in its Latin America division was down 4.4 per cent year-over-year to $1 billion. Source: Mobile World Live Image Credit: AT&T
Time of India
18-06-2025
- Business
- Time of India
Mexican telecoms regulator fines Telcel $93 million for monopolistic practices
MEXICO CITY: Mexican telecommunications company America Movil said on Tuesday the nation's telecoms regulator fined its Telcel subsidiary 1.78 billion pesos ($93.61 million) for monopolistic practices , which the company denied and pledged to challenge. The fine follows an investigation launched in 2021 by the Federal Telecommunications Institute (IFT) at the request of a competitor over alleged monopolistic practices by Telcel in the national market for the distribution and commercialization of SIM cards through convenience store chains. A spokesperson for IFT did not immediately have a comment. "Telcel denies having committed the practice referred to in the resolution," America Movil said in a statement, adding that Telcel will challenge the investigation and fine "through all available legal means." "Telcel considers it is an arbitrary and disproportionate fine based on competitor's allegations and in a biased investigation, lacking evidence, carried out by the IFT's Investigation Authority," the parent company added.
Yahoo
17-06-2025
- Business
- Yahoo
Mexican telecoms regulator fines Telcel $93 million for monopolistic practices
MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil said on Tuesday that that the nations telecoms regulator fined its subsidiary Telcel 1.78 billion pesos ($93.61 million) for monopolistic practices, which the company denied and pledged to challenge. The fine follows an investigation launched in 2021 by the Federal Telecommunications Institute (IFT) at the request of a competitor over alleged monopolistic practices by Telcel in the national market for the distribution and commercialization of SIM cards through convenience store chains. "Telcel denies having committed the practice referred to in the resolution," America Movil said in a statement, adding that Telcel will challenge the investigation and fine "through all available legal means." "Telcel considers it is an arbitrary and disproportionate fine based on competitor's allegations and in a biased investigation, lacking evidence, carried out by the IFT's Investigation Authority," the parent company added. ($1 = 19.0150 Mexican pesos) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
17-06-2025
- Business
- Reuters
Mexican telecoms regulator fines Telcel $93 mln for monopolistic practices
MEXICO CITY, June 17 (Reuters) - Mexican telecommunications giant America Movil said on Tuesday that that the nations telecoms regulator fined its subsidiary Telcel 1.78 billion pesos ($93.61 million) for monopolistic practices, which the company denied and pledged to challenge. The fine follows an investigation launched in 2021 by the Federal Telecommunications Institute (IFT) at the request of a competitor over alleged monopolistic practices by Telcel in the national market for the distribution and commercialization of SIM cards through convenience store chains. "Telcel denies having committed the practice referred to in the resolution," America Movil said in a statement, adding that Telcel will challenge the investigation and fine "through all available legal means." "Telcel considers it is an arbitrary and disproportionate fine based on competitor's allegations and in a biased investigation, lacking evidence, carried out by the IFT's Investigation Authority," the parent company added. ($1 = 19.0150 Mexican pesos)
Yahoo
17-06-2025
- Business
- Yahoo
Mexican telecoms regulator fines Telcel $93 million for monopolistic practices
MEXICO CITY (Reuters) -Mexican telecommunications giant America Movil said on Tuesday that that the nations telecoms regulator fined its subsidiary Telcel 1.78 billion pesos ($93.61 million) for monopolistic practices, which the company denied and pledged to challenge. The fine follows an investigation launched in 2021 by the Federal Telecommunications Institute (IFT) at the request of a competitor over alleged monopolistic practices by Telcel in the national market for the distribution and commercialization of SIM cards through convenience store chains. "Telcel denies having committed the practice referred to in the resolution," America Movil said in a statement, adding that Telcel will challenge the investigation and fine "through all available legal means." "Telcel considers it is an arbitrary and disproportionate fine based on competitor's allegations and in a biased investigation, lacking evidence, carried out by the IFT's Investigation Authority," the parent company added. ($1 = 19.0150 Mexican pesos) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
