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.
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