Mexican billionaire Carlos Slim may have severed ties with Elon Musk’s Starlink, his company América Móvil reportedly announced, opting to invest $22 billion in its own telecommunications infrastructure over the next three years.
Slim’s decision to cancel collaborations with Starlink across Latin America came after Musk retweeted a post that implied Slim had connections to organized crime. The fallout will cost Musk an estimated $7 billion and his main partner in 25 countries.
Shortly after, Slim reportedly announced plans to redirect his five-year, $22 billion Starlink investment to companies in China and Europe, threatening the US’s commercial presence in the region.
América Móvil’s choice to develop its own infrastructure aims to bolster its market position and decrease its dependence on external partners. The move, if confirmed, is expected to deliver a significant financial blow to Starlink, which had anticipated a profitable partnership in Latin America.
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2 Responses
Awesome!
Thank you Carlos Slim!