América Móvil, the telecoms giant controlled by the family of billionaire Carlos Slim, is growing increasingly confident that it will receive a license to offer television in Mexico, a prize that has eluded it for nearly three decades.
América Móvil, the telecoms giant controlled by the family of billionaire Carlos Slim, is growing increasingly bullish that it will receive a license to offer television in Mexico, a prize that has eluded it for nearly three decades.
América Movil offers TV in markets across Latin America, but the company has been barred from providing the service in its native Mexico since the privatization of state telecom firm Telmex in the early 1990s, which gave rise to the industry juggernaut.
Last October, an America Movil subsidiary filed a request for a pay-TV license with Mexico’s Federal Telecommunications Institute (IFT). While many feel the company’s share of the market is still too high, and the IFT has given no indication of the decision it will take, senior executives have expressed optimism in recent months that the matter will soon be resolved in their favor.
“I think that we will soon hear a final definition from the ministry that will entail not if but when we will be able to begin the service,” América Móvil Chief Financial Officer Carlos García Moreno said at an event hosted by Goldman Sachs last week, according to a recording obtained by REUTERS.
Source: REUTERS
