LatinNews Daily - 12 May 2022

In brief: Brazil’s anti-trust regulator fines telecom companies

* Brazil’s anti-trust regulator (CADE) has fined the Brazilian telecommunications company Oi, the Mexican company América Móvil, and the Spanish company Telefónica, for forming an alliance to reduce competition in a 2015 tender held by Empresa Brasileira de Correios e Telégrafos (ECT), the state-owned company that operates the postal service. CADE ruled that the companies had “harmed the competitive environment and the operations of other agents in the market” by “acting in a coordinated way to eliminate competition between themselves by forming the Red Correos consortium to win the tender.” The companies were fined a total of R$783m (US$152.3m), with América Móvil ordered to pay R$395.2m, Oi, R$266.1m, and Telefónica, R$121.7m.

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