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.
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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!