Mexico’s telecommunications market is about to receive a long delayed shake-up after all three main political parties agreed to support proposals for a much stronger regulatory regime.

The market is dominated by America Movil which controls around 70% of the local telecoms market.  We want to “strengthen the state’s role as a guiding force, the legal framework for these businesses and regulatory capacity, to encourage growth in a context of fair competition”, the Transport and Communications Minister Gerardo Ruiz Esparza announced at a press conference.

A new Federal Telecommunications Institute will be granted sweeping powers to regulate competition in the telephone and broadcasting industries — both of which are marked by monopolies.

Attempts in the past to break up the monopoly situation have broken down due to legal and political challenges, but the new proposals are being supported by politicians from all sides and seem likely to be passed into law.

The new law will also loosing restrictions on foreign ownership of telecoms operators allowing majority control of landline networks for the first time.