Investors cheer Mexico reforms

The Mexican government has proposed radical changes to shake up the country's telecoms and television sectors.

The Mexican government has proposed far-reaching changes to its telecoms and television industries. A new regulator will have the power to sanction companies with more than 50% of the market. That poses a challenge to billionaire Carlos Slim Helu, the owner of Telmex, which controls 80% of landlines.

The foreign ownership limit in the telecoms market is being hiked from 49% to 100%. Two new free-to-air television channels will be created, which neither of the two dominant players in the television market will be allowed to bid for. The laws have yet to pass through Congress.

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