Joseph Ortiz SPA 4003
Carlos Slim’s firm refutes $138.5 fine in Ecuador
written by Miriam Posada.
The firm Conecel, owned by America Movil refuted a $138.5 Million fine by the superintendency of market power control in Ecuador. The superintendency claims that Carlos Slim’s firm conducted “abuses of market power” in 2012. The firm announced that they would use any and all available legal means in its defense.
In a memo, Conecel states that the fines are unjustified and responds to a complaint filed by the state operated, Corporación Nacional de Telecomunicaciones, which refers to the five cell sites (out of the thousands that Conecel operates) in which the CNT claims they have been unable to expand their network. “There are multiple options and alternative plots in the same geographic location that are identical to those five sites where the required infrastructure could be allocated. There have not been any barriers to entry or limits imposed by competitors for any providers.”
The firm that operates in Ecuador as a subsidiary of Claro, stated “the magnitude of the fine is disproportionate to the charges, violates the constitutional principles of subsidiary and proportionality and effects the legal procedures that regulate investments.” “Conecel will exercise all forms of remediation in order to achieve a proper resolution and to ensure to due process in accordance with the law.”
