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America Movil says entry into Mexican pay TV would broaden market -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The logo for America Movil can be seen on the wall in a reception area at the corporate office in Mexico City. This was taken May 18, 2017. REUTERS/Edgard Garrido/File Photo

By Cassandra Garrison

MEXICO CITY (Reuters] -America Movil’s entry in Mexican Pay TV would increase penetration, coverage and connectivity in that market, Alejandro Cantu of Mexican telecom company, Alejandro Cantu stated on Tuesday.

Cantu was speaking at a news conference a day after Reuters reported U.S. officials had raised concerns https://www.reuters.com/article/mexico-america-movil-usa-idCNL1N2U11BG to Mexico about the implications for competition if the Mexican telecom regulator allows America Movil (NYSE: ) to access its national pay TV market.

Carlos Slim Domit (board chairman) stated that America Movil employees would love to speak with U.S. officials.

America Movil is controlled by Carlos Slim Helu’s family and dominates Mexico’s telecommunications industry. Its rise on the Pay TV market could be a threat to other companies.

A decision on pay TV is expected soon and if approved, America Movil’s entry would have major implications for the likes of U.S. peer AT&T Inc (NYSE:), which operates in Mexico, and Mexico’s dominant broadcaster, Grupo Televisa.

According to Mexico’s telecom regulator, America Movil has 70% of the Mexican market for mobile internet service and 62% for mobile phone services.

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