MEXICO CITY — Televisa topper Emilio Azcarraga Jean stepped down from the board of telco Telmex, to comply with an antitrust requirement in order to complete acquisitions of other Mexican cable companies.
At the same time Telmex exec Carlos Slim Domit stepped down from Televisa’s board, according to filings with the Mexican stock market.
Mexico’s Federal Competition Commission ruled last year that Televisa had to break ties with other potential competitors, as part of requirements for the web to acquire smaller cable companies outside Mexico City.
Regulators are also requiring Slim Domit and his father, Carlos Slim Helu, to sell off their minority stake in Televisa, although Telmex is challenging the ruling.
Televisa and Telmex, former business partners, will begin competing directly later this year, as Televisa adds phone service to its cable and Internet packages, and Telmex begins offering video services.
The commission is also requiring that Televisa offer its free-to-air channels to cable competitors, as well as carry competing free-to-air channels on its cable systems.