Mexican Supreme Court Could Restore Revenue Stream for America Movil
Carlos Slim holds a majority interest in America Movil.

America Movil SAB de CV (AMX) shares are up 0.73% to $18.04 in afternoon trading on Friday after a Mexican Supreme Court justice suggested that the court may restore interconnection fees that the country's Congress eliminated.

The proposal by Justice Javier Laynez argues that any rule change should not be retroactive, which would result in Movil forfeiting an estimated $800 million in lost revenue from the fees, according to Bloomberg estimates.  

Carlos Slim, one of the world's richest people and one of the New York Time's (NYT) largest stakeholders, controls America Movil. 

Watch More with TheStreet:

More from Stocks

Weak China Data, Starbucks, Adobe, Apple, Facebook - 5 Things You Must Know

Weak China Data, Starbucks, Adobe, Apple, Facebook - 5 Things You Must Know

Starbucks Drops After Trimming Long-Term Earnings Growth Aim

Starbucks Drops After Trimming Long-Term Earnings Growth Aim

If It Looks Like a Bear and Smells Like a Bear...

If It Looks Like a Bear and Smells Like a Bear...

Jim Cramer: What to Buy in This Treacherous Market

Jim Cramer: What to Buy in This Treacherous Market

Stocks Extend Slide as Weak Data From Europe and China Reveal Trade War Damage

Stocks Extend Slide as Weak Data From Europe and China Reveal Trade War Damage