Carlos Slim’s Telcel Subsidiary Hit with $1B Fine

The richest man in the world just became a little poorer if the heavy fine is upheld upon appeal. The cellphone subsidiary was charged with monopolistic practices by Mexico’s anti-trust commission, which levied the $1 Billion dollar fine.

Named the richest man in the world by Fortune Magazine, Slim is estimated to be worth $74 billion. His companies have come under various allegations of monopolistic practices in the past.

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