Mexico’s telecom regulator said it signed off on the prices dominant phone company America Movil can charge rivals and virtual operators to connect to its network, according to a statement from the regulator on Saturday.

Billionaire businessman Carlos Slim’s America Movil, which controls about 70 percent of Mexico’s mobile phone lines, was declared dominant by the regulator last year.

As a result of that ruling, America Movil has to seek regulator approval for the prices it charges other operators for using its infrastructure.

(Reporting by Elinor Comlay; Editing by Dan Grebler)

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