Puerto Rico Telephone Petitions FCC on Foreign Ownership
Puerto Rico Telephone Co. is seeking to reaffirm that its indirect foreign ownership is acceptable to the FCC. In a petition filed last week, PRTC said it's complying with the 2019 declaratory ruling that allows potential increases in telecom magnate…
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Carlos Slim's family's ownership of its parent company, America Movil. The petition aims "to provide more granular information" about Slim family interests in America Movil, PRTC said. In addition, it said granting the petition won't change its ultimate control, with PRTC being indirectly controlled by America Movil, as well as Slim and members of his family, who are controlling shareholders of America Movil. PRTC said the FCC previously indicated it would allow up to 100% indirect foreign ownership investment in the company by Mexico's America Movil.