Carlos Slim’s Company Contest a Fine of $138.5 Million issued by Ecuador By Miriam Posada/ La Jornada(Mexico)/ February 10,2014
Conecel Company property of América Móvil contest the $138.5 million dollars fine that was imposed by Ecuador superintendency of Market Power Control, which affirmed that Carlos Slim’s company exerted “Abuse of Market Power” in 2012. Also, the Superintendency announced that in it defense will exert the legal resources that law contemplates.
In a statement Conecel stated that the fine is unjustified and respond to ” a complaint from the state operator CNT (is a public Telecommunication Company, known in Spanish as La Corporación Nacional de Telecomunicaciones of Ecuador) referring to five pieces of land (of thousand that Conecel lease) in which CNT claims that they would not been able to expand their networks, in the same zones where the five pieces of land are located. Conecel said that there are options; alternate and suitable areas, in which CNT’s required infrastructure, could be installed without problem. Also, that there does not exist, then, any entry barriers nor limited competition for any operator.”
The company that operates in Ecuador as an affiliate of Claro considered that “the magnitude of the fine is disproportionate, violate the constitutional principle of proportionality, and affects the legal security in which the process of investment is based.”
“Conecel will exert the resources that law contemplates, in order to achieve a resolution in accordance with the law, that guarantee the legal process within a framework of legal security.