MEXICO CITY: America Movil, the mobile telephone giant of Mexican billionaire Carlos Slim, prepared Monday to appeal a record $1 billion fine for "suspected monopolistic practices."
Mexico's Federal Competition Commission slapped the fine on Latin America's top cell phone operator Friday, following an investigation started in 2006 over fees charged to complete calls to wireless networks.
America Movil and its subsidiary Telcel, its Mexican mobile unit, said Friday they would "use every one of the defense measures at their disposal."
The carrier had 225 million mobile-phone subscribers at the end of last year, including 64 million in Mexico.
Telcel and fixed-line unit Telmex, as well as a group of rival giants including Televisa and TV Azteca, have filed mutual complaints with the anti-trust operator accusing each other of "monopolistic practices."
Tycoon Slim, 71, last month made the top of the Forbes rich list for a second consecutive year with a fortune of $74 billion.
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