17 June 2012

MEXICO /AUSTRIA : Telecom Heavyweight Carlos Slim Invades Austria; Monopolies Still Dominate In Mexico.


     Billionaire bargain hunter Carlos Slim...the world's richest man with $66 billion...is moving into the troubled EU...by buying 21% of Austria Telecom...for $1.1 billion.
    Distressed companies...and a central and eastern europe foothold appeal to Slim...since his America Movil's control of 87% of Mexico's landlines...is finally being challenged by other telecoms and the courts...while growth is slowing there and in Brasil.
    Slim also recently tendered a hostile offer for 28% of the faltering Dutch telecom KPN.
   America Movil is a major telecom player in 18 Latin American nations...with $49 billion in  revenues in 2011.

   AND : How monopolies still rule Mexico...from bread to TV...milk to beer....gasoline to electricity.
       It's the way it's done...and has always been done.