The Submarine Economy

Law360, New York (June 13, 2011, 12:06 PM EDT) -- “[W]e are acting in favor of competition and I do believe free markets. In order to do so, we are re-enforcing the authority of the antitrust agencies in Mexico…. That is the message. We want a very competitive economy in Mexico.”

So said Felipe Calderón, president of Mexico, in May 2011, after the Comisión Federal de Competencia (“CFC”) levied the largest fine in the history of Mexico’s antitrust law — $1 billion — against Telcel, a telecommunications company controlled by the world’s richest man — Carlos...
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