Cofetel supports removal of foreign ownership cap

18 Jul 2008

Cofetel, the Mexican telecoms regulator, has announced that it will support a bill that proposes the removal of a foreign ownership cap in Mexican telecoms operators, BNamericas reports. Currently foreign investors are only allowed to hold 49% of any operator. Cofetel has stated that whilst it will offer its support it does not expect the change to guarantee an expansion of infrastructure in the country. According to TeleGeography’s GlobalComms database, the Organisation for Economic Cooperation and Development (OECD) called for the elimination of the cap in April 2007.