Carlos Slim’s America Movil is asking the Organisation for Economic...
Carlos Slim’s America Movil is asking the Organisation for Economic Co-operation and Development to withdraw the group’s earlier report on the Mexican telecom market, calling the report’s proposed regulations unnecessary and unsubstantiated, Chief Financial Officer Carlos Garcia-Moreno said during a…
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conference call Monday. The report said high telecom prices in Mexico cost consumers there $26 billion a year in opportunity cost. OECD couldn’t be reached immediately for comment. The report used hypothetical data, according to Jerry Hausman, economics professor at MIT, who was on the call. It’s not just an America Movil issue, said Gregory Sidak with Criterion Economics, stressing that countries and governments count on accuracy of data to guide policymaking. An America Movil-commissioned report by Sidak claimed the OECD’s “harsh criticisms” of Mexico’s government and legal system are equally “baseless” and demonstrate “a clear bias for regulation over competition.” The OECD criticized Mexico’s amparo process and the filing of such appeals by Telmex and Telcel regarding various rulings by Mexican telecom regulator Cofetel, even though the courts more often than not found Telmex and Telcel were correct and Cofetel had acted unlawfully, Sidak’s report said. Carlos Slim, listed by Forbes as the world’s richest man in 2012, is the chairman and chief executive of Telmex and America Movil. America Movil’s wireless unit, Telcel, was fighting a nearly $1 billion fine by Cofetel over anti-competitive practices The fine was recently lifted.