America Movil Stock Declining on Strict Antitrust Rules

Shares of America Movil (AMX) are falling by 4.7% to $12.77 on Thursday afternoon, after regulators in Mexico increased the antitrust rules against billionaire Carlos Slim's telecom company, Reuters reports.

America Movil has 65 working days to submit a plan that will separate part of its fixed line unit Telmex. The The Federal Telecommunications Institute has increased antitrust rules against the company in order to leave further room for competition in the space. 

(This story was updated from 10:20 a.m. to include further antitrust details.) 

More from Stocks

Data Regulation on FAANG's Could Just Be Underway: Cramer's Investing Teach-in

Data Regulation on FAANG's Could Just Be Underway: Cramer's Investing Teach-in

Your Need to Know - Forward Look

Your Need to Know - Forward Look

A Guide to Investing in the Fast-Emerging Cannabis Industry

A Guide to Investing in the Fast-Emerging Cannabis Industry

Cramer: Amazon Will Be an 'Outsized Winner' When Consumer Trends Shift Online

Cramer: Amazon Will Be an 'Outsized Winner' When Consumer Trends Shift Online

EBay Stock Tumbles 8.9% to Hit Lowest Level in Nearly 2 Years

EBay Stock Tumbles 8.9% to Hit Lowest Level in Nearly 2 Years