Awwal 21, 1432, April 25, 2011, SPA -- Mexican company Telcel, Latin America's largest mobile-phone operator, was fined around 1 billion dollars by Mexico's antitrust authority, according to dpa. Mexican media reported Monday that the company was found to have charged competitors excessive rates for use of Telcel's cellphone network. An investigation had been demanded in 2006 by rival firms including Telefonica, Axtel and Protel. Telcel is owned by Mexican tycoon Carlos Slim, who is estimated by US-based magazine Forbes as the world's richest man with assets valued at 74 billion dollars. Monday's fine was reportedly the largest in the 18-year history of Mexico's Federal Commission for Competition (CFC). Telcel has 30 days to appeal. The CFC and the Organization for Economic Cooperation and Development (OECD) have estimated that competition in the cellphone market cost Mexican consumers 6 billion dollars per year.
