According to Bloomberg: Carlos Slim, the world’s richest
person, is confronting a mounting backlash from the same Latin American
countries that made him wealthy as authorities rein in his expanding
mobile-phone empire.
A wave of telecommunications regulation has swept Latin
America in the past four months, and Mexico’s new president pledged last week
to stimulate competition against Slim. In Brazil, institutions that monitor the
phone industry are also gaining teeth, while populist politicians in countries
such as Argentina and Colombia are spurring rule changes.
The result has been a series of rulings and orders that have
cut into profitability at America Movil SAB (AMXL), Slim’s biggest company and
the most widely used wireless carrier in the Western Hemisphere. Slim, 72, has
personally fought back against the trend, saying it will hurt his ability to
invest in new technology -- an argument that’s holding less sway with
government officials in light of his company controlling more than a third of
the market....
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