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Telefonica also competes with Slim in Latin America's largest economyBrazil, where it leads the mobile market through its Vivo unit.
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Regional economic bloc Mercosur - which includes the region's two biggest economiesBrazil and Argentina - also condemned the move.
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Emerging economiesBrazil and India threw their support behind the U.N. effort, saying they would use the TEEB findings as a guide.
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One of Latin America's biggest free trade advocates, Mexico feels particularly bruised by protectionist moves by fellow heavyweight economiesBrazil and Argentina.
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In the 2000's the Brazilianeconomy was booming- indeed an emerging Global Power.
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The new investment will also help kick-start a sluggish Brazilianeconomy, supporters say.
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People are very careful." "Forecasts for the Brazilianeconomy are still worsening.
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Forecasts indicate the Brazilianeconomy is heading for its steepest annual drop on record.
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Mantega shrugged off worries of a recession and said the Brazilianeconomy is far from stagflation.
Usage of economy of brazil in English
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The year-long slowdown in the once-booming economyofBrazil has impaired tax collection more than expected.
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China's industrial output growth eased much more than expected in April, suggesting the economyofBrazil's top trading partner is cooling.
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Chinese industrial output growth eased much more than expected in April, suggesting the economyofBrazil's top trading partner is cooling.
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He points to the status-displaying impulses of the newly affluent middle classes emerging in the so-called Bric economiesofBrazil, Russia, India and China.
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While populist candidates are polling near the top for the region's largest economiesofBrazil and Mexico, none advanced to the second round in Chile.