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FDI: Entry and ownership rule
Both Mexico's Lower and Upper House of Congress approved a telecommunications bill that amends the Federal Telecommunications Law of 1995 by the end of April 2013. The bill envisages the creation of a new regulatory agency and a specialised court system to deal with specific cases. Furthermore, the Government would be entitled to force companies to sell their assets in case they control more than 50 per cent of the market.
Among the provisions with effects on foreign commercial interests, the bill includes the possibility of foreign investment in Mexican telecommunication and television firms. The ceiling of foreign ownership will be set at 49 per cent in telecommunications and 100 per cent in the television sector. In both markets, foreign investment is currently not allowed.
The bill is now submitted for final approval by both State Congresses.
On July 14, 2014, the Mexican Secretary of Communications and Transport issued a Decree to promote greater competition in the telecommunications market.
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