Mexico Sues Billionaire Carlos Slim's Telmex Over Phone Fees Tracy Wilkinson - The Los Angeles Times
go to original April 3, 2013

Carlos Slim's net worth is estimated at around $73 billion. (Reuters)

MEXICO CITY — In an unusual legal action against the world's richest man, Mexico is suing the telecommunications giant Telmex for charging allegedly illegal fees that were tacked on to what are already some of the highest phone rates among developed countries.

The lawsuit, filed in civil court by the federal consumer protection agency, aims to end a set of fees and, in what may be a first in this country, recover money for millions of telephone users.

Telmex provides about 80% of fixed telephone lines in Mexico. It is owned by tycoon Carlos Slim, listed for the last few years by Forbes magazine as the wealthiest person in the world, with an empire estimated at $73 billion.

Slim also controls nearly three-quarters of the Mexican cellphone market through another company, Telcel, part of his regional conglomerate America Movil. Telcel has also been sued by the consumer protection agency for failing to reimburse users for a series of recent service outages.

Read the rest at The Los Angeles Times

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