América Móvil Subsidiary Contests IFT Fine

America Movil (AMX) has released an update.

América Móvil’s subsidiary, Telcel, faces a MXN$90.6 million fine from Mexico’s Federal Telecommunications Institute (IFT) for alleged monopolistic practices, a charge which Telcel denies and plans to contest. The investigation, initiated by a competitor in 2021, has been questioned by Telcel for its methodology and the use of competitor’s claims as its basis. The financial market watches closely as América Móvil navigates this legal challenge.

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