Safelink Wireless’ Parent Company hit with Billion Dollar Fine

You may not be aware that Safelink Wireless/Tracfone are subsidiaries of a Mexican cell phone company named America Movil. It’s the world’s fourth largest cell phone company and the largest provider of wireless service in Latin America. It’s owned by the richest man in the world, Carlos Slim, worth about $74 billion. America Movil racked up $30 billion a year for him.

Slim may lose a billion dollars if the charges filed against him stick. AP reports:

Mexico’s anti-trust commission has hit billionaire Carlos Slim’s cellphone subsidiary with a 12 billion peso ($1 billion) fine, parent company America Movil announced.

The Federal Competition Commission said the cellphone subsidiary, Telcel, engaged in monopolistic practices associated with call terminations, America Movil said in a filing with the Mexican stock exchange late Friday.

The company said it is studying the fine and all options for appeal.

His businesses have been charged with monopolistic practices in the past.

Source: EarthLink – Business News.

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Comments

  1. jan says

    i am a safelink customer and the service here where i live at is Horrible, you can’t use your phone if your in your house cause it does not pick up service, and if you leave out of the town limits you have no service at all. and the customer service is so bad you can’t understand anything they say, i always ask them can i talk to someone that know ‘s english please and i still get a non-English speaking person.

  2. Claudia says

    As I’m Living in Florida, I have not been aware of any shinanigans or monopolies that Tracfone has been related to and I have always found Tracfone to offer the lowest out of pocket cost for service compared to any other cell phone plan in the US and I’ve always experienced great coverage on my travels using myTracfone phone.
    It’s not just seniors who are getting government aid that need cell phones for emergency use but also seniors who are living on a small pension that also need a low cost phone for emergencies.
    This is why it was a no brainer for me to get my mom a special Tracfone for seniors which is hearing aid compatible with larger keys and letters which made dialing allot easier. This cell phone for seniors Tracfone Samsung T155G cost us $15 and the service only costs my mom $7/month.
    I think every senior should keep a Tracfone on them at all times.

    • Tracie says

      Geez Claudi? Are you a tracfone stock holder??? An employee? tracfone retailer?
      All I can say is both Virgin and Att are cheaper prepaid options here in WA. and my exerience with Safelink, a governent supported tracphone program has been nightmarish.
      They stink!!! Horrible customer service if you speak english. Cheap, unusable phones!
      I’d say go ANY WHERE else.

      • antag says

        Claudia —– does that Safelink emergency service ithat you need include calls to international locations — or long distance for that matter and do you foresee the need toi send 911 a text message? Do you think they’ll call you back and leave a message on your voice mail. And do you think you’ll have 250 free minutes of emergencies every month (which you can carry over from month to month)? Bull.

        • Lora says

          Your comment makes no sense to Me?
          I have no Idea who Claudia is but I 100% agree with her.
          I live in Florida and have never heard of any problems or had any with the Safelink phone I signed my mother up for.
          She is on a fixed income and instead of the lifeline discount on her home phone she now has a “free” Safelink phone which is a tracfone which i call her on long distance all the time. The coverage is GREAT!
          They have went out of there way to work with my mom in walking her through and setting up her phone because i could not be there to do it for her. Yes, just like any other company it is hard to get someone on the phone. But when we did they spoke plain and were very helpful.
          And no I do not work for them in any way and I am not a stock holder. Just believe it is a great product and recommend it to all the seniors i work with!
          My opinion and it is a great one! Happy New Year to all!

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