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MEXICO CITY (Reuters) -America Movil’s entrance into Mexican pay TV would boost coverage, penetration and connectivity in the market, the Mexican telecoms company’s general counsel Alejandro Cantu said on Tuesday.
Cantu was speaking at a news conference a day after Reuters reported U.S. officials had raised concerns https://www.reuters.com/article/mexico-america-movil-usa-idCNL1N2U11BG to Mexico about the implications for competition if the Mexican telecom regulator allows America Movil (NYSE:AMX) to enter its domestic pay TV market.
The company’s board chairman Carlos Slim Domit told the news conference that America Movil executives would be happy to meet U.S. officials to discuss their business plans, including around the pay TV venture.
“We think there’s an opportunity to sit down with them and talk about all this,” Slim Domit said. He added that the company was looking to arrange a meeting with the office of the U.S. Trade Representative (USTR).
Controlled by the family of billionaire Carlos Slim Helu, America Movil dominates the telecommunications market in Mexico, and its emergence on the pay TV scene could hit rivals, including U.S. companies operating in Mexico.
A decision on pay TV is expected soon and if approved, America Movil’s entry would have major implications for the likes of U.S. peer AT&T Inc (NYSE:T), which operates in Mexico, and Mexico’s dominant broadcaster, Grupo Televisa.
America Movil currently has a 70% market share for mobile internet services in Mexico and more than 62% of mobile phone services, according to the Mexican telecom regulator.
