Mexican magnate Carlos Slim's companies fight regulators' decision to declare them predominant

Associated Press + More

MEXICO CITY (AP) — Two companies controlled by Mexican billionaire Carlos Slim filed an appeal against government regulators' decision to declare them "predominant" in telecommunications, an industry they say they don't even participate in.

The Federal Telecommunications Institute had declared the companies had majority market positions in the telecom industry early in March, even though neither is a telephone carrier or Internet provider.

The companies are Inbursa, a Slim-controlled bank, and his Grupo Carso diversified holding company.

Regulators had said that was because the two firms had ties to America Movil, which does have dominant market position in areas like cell phones.

The two companies notified the Mexican Stock Exchange Monday they have filed for an injunction against the measure, which makes them subject to special restrictions.

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