MEXICO City (Reuters) - shares for America Movil of billionaire Carlos Slim fell to their prices the lowest since March 2010 a report suggesting that a regulator could make the telecommunications company following fresh cut Friday at the Mexico.
America Movil shares lose 4.01 per cent to 28.67 pesos, their fall for a day more than 17 months.
Bloomberg News reported that Mony de Swaan, head of the regulator of telecommunications Cofetel, said that america Movil might be confronted with "a mixture of various measures relating to fees, information and quality."
Bloomberg said regulations could affect the unity of the America Movil Telmex fixed lines, but it did not provide any comment of Swaan to justify the assertion.
Actions Telmex fell to 1.59% 9.93 pesos.
Representatives from America Movil and Cofetel has refused any immediate comment.
"America Movil is declining because of the market is declining and Mony de Swaan had just said that there could be new regulations," said Martin Lara, an analyst with brokerage Actinver in Mexico City.
Low U.S. employment data weighed on the broader Mexican market. America Movil is the stock more liquid to the Mexico and investors use it as a proxy for the market as a whole, said Lara.
Investors reversed the action of the America Movil prices in a rout to two figures since April after the Federal Competition Commission fined the company $ 1 billion for abusing its market position. Investors are concerned about continuing efforts by regulatory agencies.
The stock had recently found support just below 29 pesos.
Lara said that down its share had overstated the potential impact in addition to the regulations on the Affairs of America Movil.
"We love the stock at its current level and we don't think additional regulations will have a significant impact in the course of actions, Lara has."
(Reporting by Michael O'boyle, additional reporting by Tomas Sarmiento;) (Editing by Kenneth Barry)
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