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Carlos Slim Angered by Activists Protest in the US

exeqfind | 29.05.2013

The world’s richest man – Mexican billionaire Carlos Slim is reported to be angered by demonstrations against his monopolistic practices in Mexico’s telecommunications industry.  Mr. Slim holds that the demonstrations are orchestrated campaigns against him and his businesses and he is asking California authorities to investigate whether the activists groups are funded by his business adversaries.

The world’s richest man – Mexican billionaire Carlos Slim is reported to be angered by demonstrations against his monopolistic practices in Mexico’s telecommunications industry.  Mr. Slim holds that the demonstrations are orchestrated campaigns against him and his businesses and he is asking California authorities to investigate whether the activists groups are funded by his business adversaries.

Mr. Slim’s phone company America Movil SAB is under increasing pressure within Mexico following congressional passage of a telecommunications sector reform which would mean the company would face even stricter regulation and possible forced sales of some of their assets.  America Movil currently owns and controls around 70% of Mexico’s fixed and wireless markets.

TCOV or “Two Countries One Voice” was established last year by activists with the purpose of exposing what they claim is monopolistic practices by Mr. Slim.  The group has held demonstrations at numerous events in the US that were attended by Mr. Slim.  Recently, TCOV organized what they call a “laugh-in” in New York where Mr. Slim was speaking about his support for education.  During the speech, several dozen protesters in the audience began disrupting the speech by laughing out loud.  The group followed that speech with another protest outside a telecommunications industry event in Las Vegas.

The US unit of America Movil – TracFone Wireless, Inc. filed a complaint against TCOV with the California Fair Political Practices Commission and asked the commission to investigate the source of TCOV’s funding to determine if the funding could be traced back to TracFone’s competitors.

TCOV’s leader Andres Ramirez stated in The Wall Street Journal that, “Our campaign is not funded, has not been funded, nor will be funded by Grupo Salinas or any of their affiliates, subsidiaries or executives.  Our campaign has no relationship whatsoever with Grupo Salinas.”  Grupo Salinas refers to Ricardo Salinas Pliego who controls Mexico’s No. 2 television broadcaster, TV Azteca SAB and also competes with Slim through a 50% stake in mobile operator Iusacell and a fiber-to-the-home broadband, video and phone service.

We aren’t sure what to make of all this squabbling, but being an executive search firm that makes a high volume of calls between land and wireless devices throughout the US and Mexico, it would be nice to see Mr. Slim get his rates in line with the rest of the world.

Warren Carter is an executive search consultant with ExeQfind and is passionate about matching key talent with clients from all over the world to lead and manage their organizations in the US and Mexico.   Warren also serves on the Executive Board of IRC Global Executive Search Partners and has traveled and worked with organizations from all corners of the world.  Warren can be reached at (619) 921-1795 

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