LatinNews Daily Report - 26 April 2013

ECONOMY| Telecoms reform clears first hurdle. On 25 April Mexico's chamber of deputies (lower house of congress) approved the Telecommunications reform bill by 409 votes and two abstentions. Most of the 32 votes cast against were from members of the smaller leftist Partido del Trabajo (PT). The legislators approved all the changes that were made in the senate. The version that was voted maintained the independent regulatory bodies that experts in the sector have highlighted is a vital element of the reform. The strength of the regulators is that they will have teeth to effectively remove barriers to competition and sanction entities deemed to be carrying out monopolistic practices. The chamber amended only one article which means that is has to be returned to the upper chamber to ratify the change, before President Enrique Peña Nieto signs it into law.

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