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Monday, June 30, 2014

Regulator finds ties between Slim and Dish Mexico -report, (NASDAQ: SATS)

Mexico's telecommunications regulator has found that Carlos Slim's fixed-line telephone company, Telmex, and pay-television provider Dish Mexico have undisclosed economic links that might breach anti-trust rules, newspaper El Financiero said on Monday.Slim dominates Mexico's phone and Internet markets through Telmex parent America Movil, but the terms of Telmex's concession prevent the company from offering TV.If regulator Federal Telecommunications Institute (IFT) found that Telmex breached its concession, it could impose a fine on the company.Dish Mexico, which is backed by Mexico's MVS Comunicaciones and Colorado-based EchoStar Corp, has drawn millions of customers, many from Groupo Televisa SAB, the No. 1 Mexican broadcaster, which offers pay TV, Internet and phone services.

EchoStar Corporation is a holding company. EchoStar Technologies segment designs, develops and distributes digital set-top boxes and related products and technology. Shares of SATS fell by 1.21% or $-0.65/share to $52.94. In the past year, the shares have traded as low as $37.22 and as high as $53.73. On average, 194622 shares of SATS exchange hands on a given day and today's volume is recorded at 213040.