GLOBAL ECONOMY

Mexico's Peña Nieto Signs Law That Restricts Telecoms

FILE - In this Nov. 27, 2010 file photo, Enrique Pena Nieto, governor of the state of Mexico, waves prior to his wedding with Mexican actress Angelica Rivera, behind, at the Metropolitan Cathedral in Toluca, Mexico. Pena Nieto, the former governor of Mexico State, told the Televisa network late Monday Sept. 19, 2011 that he plans to seek the nomination to run in the July 2012 presidential election for the Institutional Revolutionary Party, or PRI.  Pena Nieto, 45, is seen as the PRI's best chance to regain the presidency it held for more than 70 years before losing to Vicente Fox in 2000 and then Felipe Calderon in 2006, both of the rival National Action Party, or PAN.  (AP Photo/Marco Ugarte, File)

FILE - In this Nov. 27, 2010 file photo, Enrique Pena Nieto, governor of the state of Mexico, waves prior to his wedding with Mexican actress Angelica Rivera, behind, at the Metropolitan Cathedral in Toluca, Mexico. Pena Nieto, the former governor of Mexico State, told the Televisa network late Monday Sept. 19, 2011 that he plans to seek the nomination to run in the July 2012 presidential election for the Institutional Revolutionary Party, or PRI. Pena Nieto, 45, is seen as the PRI's best chance to regain the presidency it held for more than 70 years before losing to Vicente Fox in 2000 and then Felipe Calderon in 2006, both of the rival National Action Party, or PAN. (AP Photo/Marco Ugarte, File)  (AP)

Mexican President Enrique Peña Nieto has signed into law a communications overhaul with tough restrictions on dominant companies in the telephone and television sectors.

The bill signed by Peña Nieto on Monday imposes fee limits and infrastructure-sharing requirements on any company that controls more than half the market in sectors like telephones, Internet or television.

Companies judged to have "preponderant" market positions face limits on how much and who they can charge, what fields they can enter and what kind of exclusivity arrangements they can make.

Peña Nieto says the change will increase competition in radio and television and create more effective phone and internet services.

Billionaire Carlos Slim's America Movil phone company announced last week it will sell off assets to get the company below the 50 percent limit.

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