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America Movil agrees to pay USD 1.1 mln to settle FCC probe

2016-06-29 09:08:00| Telecompaper Headlines

(Telecompaper) Puerto Rico Telephone Company (PRTC) and parent company America Movil have agreed to pay USD 1.1 million to settle a Federal Communications Commission (FCC) investigation into foreign ownership levels. In a statement the FCC said stock purchases of America Movil by its owner Carlos Slim and his family "repeatedly exceeded the foreign ownership levels approved by the Commission". The companies have each agreed to adopt compliance plans to prevent future stock purchases by the Slim family that would exceed foreign ownership limits without first receiving the agency's review and approval.

Tags: pay america usd probe

Category:Telecommunications

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