Mexico's competition watchdog is investigating whether a tie-up between the country's largest home-phone network and a pay TV company has given the world's richest man Carlos Slim a backdoor entry to the television market, according to a Reuters special report published on Tuesday. Slim's home phone giant Telmex (TELMEXL.MX) (TMX.N) and Dish Mexico, a satellite television company backed by Mexico-based MVS Comunicaciones and Colorado-based EchoStar Corp (SATS.O), are a powerful duo offering a cut-rate television service that has drawn millions of customers. Now Mexico's competition regulator Cofeco is examining whether the joint enterprise is an alliance that breaches fair business rules, a spokesman at the watchdog said. Telmex rivals have loudly complained for years that the partnership is improper and runs against rules that bar Slim's company from putting a foot into the pay television market. Mexico's dominant TV broadcaster Televisa (TLVACPO.MX) (TV.N) and its telephone and cable TV allies filed a 115-page complaint with Cofeco over Telmex's involvement with Dish Mexico earlier this year.
Telefonos de Mexico, S.A.B. de C.V. (TELMEX) owns and operates a fixed-line telecommunications system in Mexico. Shares of TMX fell by 0.99% or $-0.16/share to $16.00. In the past year, the shares have traded as low as $13.83 and as high as $19.28. On average, 1020830 shares of TMX exchange hands on a given day and today's volume is recorded at 379860.
EchoStar Corporation (EchoStar) is a holding company. Shares of SATS fell by 1.83% or $-0.69/share to $36.99. In the past year, the shares have traded as low as $18.10 and as high as $38.12. On average, 191992 shares of SATS exchange hands on a given day and today's volume is recorded at 58177.
Grupo Televisa, S.A.B. is a media company. The Company operates broadcast channels in Mexico and complement its network coverage through affiliated stations. Shares of TV fell by 0.96% or $-0.22/share to $22.64. In the past year, the shares have traded as low as $17.97 and as high as $26.67. On average, 1707130 shares of TV exchange hands on a given day and today's volume is recorded at 1021125.
