MEXICO CITY (AP) — Mexican regulators say they have denied billionaire Carlos Slim's request to enter the television market through his telephone company.
The Communications and Transportation Department says Slim's Telefonos de Mexico SAB does not meet federal requirements.
The regulatory agency said in a press statement Friday that the company needs to comply with "nondiscriminatory" rules on rates it charges to connect other carriers to its network. That was the reason why the company was fined $1 billion (12 billion-peso) in April by the Mexican antitrust agency, which cited "relative monopolistic practices."
The agency said Telmex, which controls nearly 80 percent of Mexico's fixed phone lines, can reapply for television rights changing its practices.