Telcel has about 70% of mobile customers and landline company Telmex has about 80% market share.
The other two court members didn't, and both voted for Telcel in the 6-4 ruling.
The commission, Cofetel, lifted the fine in early May after Telcel agreed to several conditions.
As it happens, interconnection fees charged by Telcel were the subject of much discussion at the country's Supreme Court.
One minister, Arturo Saldivar, before being named to the court, was Telcel's main lawyer in fighting Cofetel over interconnection rates.
More than two decades later, Telcel still controls 70% of the country's wireless market and Telmex 80% of the fixed-line market.
Telcel has a 70% share of the wireless market in Mexico.
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But every time Cofetel would set a lower price, Telcel would appeal in Mexico's Byzantine court system, where cases can often get tied up for years.
In Mexico, TelCel, the country's biggest mobile operator, plans this month to launch a service that allows customers to determine whether they have flu using their mobile phones.
Shortly after, TV Azteca said it wouldn't allow Mr. Slim's companies to advertise on its network until Telcel lowered the interconnection fee that it charges rivals to connect to its network.
For years, Telcel has charged competitors more money to connect calls to its 66 million customers than it charges its own customers to call within the network, giving rivals no chance to offer competitive rates.
It is the 20th time the 27-year-old has reached a World Tour final but he has a 0-8 record against Nadal -- the most recent defeat coming at the semifinal of the Abierto Mexicano Telcel in February.
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