America Movil announced it has been ordered to pay a MXN 11.99 billion (approximately USD 1 billion) fine by Mexican competition watchdog Federal Competition Commission (CFC) for alleged monopoly practices. The fine follows a four-year investigation carried out by the CFC into Telcel, America Movil‘s mobile brand in Mexico.

According to a filing with the Mexican stock exchange, the fine is related to a probe begun in November 2006 over alleged monopoly practices associated with mobile call termination on the Telcel network. “America Movil and its subsidiary Telcel are analyzing the decision, and plan to appeal”, the company said.

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