Law360, New York (May 03, 2012, 1:56 PM ET) -- Mexico’s competition authority has rescinded a $1 billion fine against telecommunications giant America Movil SAB de CV's wireless unit Telcel for alleged monopolistic practices, the agency announced Thursday.
The Federal Competition Commission, or CFC, said in a statement that it voted to set aside the $1 billion fine after Radiomovil Dipsa SA de CV, commonly called Telcel, agreed to reduce the fees it charges for interconnection rates.
Telcel, as part of ongoing commitments, agreed to lower the rate in stages, to 30 cents by 2014. It...
Mexico Sets Aside $1B Antitrust Fine Against Telcel
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