Slim family fined for owning too much stock in U.S. phone company

The Federal Communications Commission has fined Puerto Rico Telephone Co. and its parent company, Mexico’s América Móvil, $1.1 million for violating rules governing foreign ownership and control of American telecommunications carriers,


TV Technology

reported.

“Stock purchases by América Móvil’s owner, Carlos Slim Helú, and his family repeatedly exceeded the foreign ownership levels approved by the commission, the article said.

The FCC said the fine was the largest ever “because of the Slim family’s repeated violations.” Puerto Rico Telephone Co., which operates in the U.S. territory of Puerto Rico, and América Móvil have exceeded their approved foreign ownership level three times in five years, the article said.  (Source:


TV Technology,


June 28, 2016.)