MEXICO CITY (Reuters) - America Movil, the telecoms giant controlled by the family of Mexican billionaire Carlos Slim, said in a regulatory filing on Monday that one of its subsidiaries had been fined 1.3 billion pesos (.53 million) by Mexico's telecoms regulator.
The regulator said the fine was for failing to comply with a requirement to share information about the availability of its telecom infrastructure, such as posts and ducts, America Movil (MX:AMXL) reported.
America Movil criticized the regulator's move, saying it reflected a "lack of due process," and said the company would exercise "all legal remedies to challenge it."
"This arbitrary, illegal and disproportionate fine affects the legal certainty in a sector that requires important investments," the company said in a statement.
The fine was levied against one of America Movil's subsidiaries, Telefonos del Noroeste, known as Telnor.
A spokeswoman for the regulator, the Federal Telecommunications Institute, did not immediately respond to a request for comment.
( = 18.6980 Mexican pesos)
