Brazil meltdown dims outlook for mexican companies like Slim’s

Patricia Laya – Bloomberg Business, 9/18/2015

Mexican companies including billionaire Carlos Slim’s America Movil SAB are becoming the latest victims of Brazil’s woes.

America Movil, as well as bottler Coca-Cola Femsa SAB and petrochemical Mexichem SAB, have expanded into Brazil in search of growth beyond their home market. Now they’re feeling the pain as South America’s largest economy heads for its worst recession since the 1930s, causing middle-class families to scale back consumption on everything from soft drinks to pay-TV packages.

Brazil’s fast-growing middle class had appealed to Mexican companies, especially America Movil, which has been facing penalties set by regulators in Mexico for its dominance.

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