Mexico Phone Industry Overcharged Users $13.4B

Mexico’s phone industry, dominated by billionaire Carlos Slim’s carriers, overcharged customers $13.4 billion a year from 2005 to 2009, hurting the nation’s economy, according to a report.The overcharging combined with the potential loss of business caused by high prices equaled 1.8 percent of the nation’s gross domestic product, the Organization for Economic Cooperation & Development said today in a report.To read this Bloomberg report in full, see: see:Mexicans overcharged billions for phone, web: study
Mexicans have been overcharged $13.4 billion a year for phone and internet services as the industry dominated by billionaire Carlos Slim gouges customers and keeps the economy from growing, a study released on Monday said.Mexico, the second-largest economy in Latin America, cannot reach its growth potential until the cost of phone and internet access comes down and more people have easy access to telecom services, the report from the Organization for Co-operation and Development said.

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