Telecom Italia (TI -6.4%) and America Movil (AMX -1.4%) slump after Brazil's telecom regulator...

|About: Telecom Italia S.P.A. (TI)|By:, SA News Editor

Telecom Italia (TI -6.4%) and America Movil (AMX -1.4%) slump after Brazil's telecom regulator suspends phone sales for the country's top 3 carriers in a number of states, citing poor service and complaints. Telecom Italia's TIM will be prohibited from selling phones in 19 states, and AMX's Claro will be prohibited in 3 states. Sales can only resume after the carriers present investment plans detailing how they will improve service.