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Mexico Phone Card News / Mexico Telecom News
Mexico Telmex approves international spinoff

Date: 12/23/2007 11:55:34 AM

Shareholders of Mexicos Telmex, the countrys dominant fixed line phone company, on Friday approved a spinoff of its fastgrowing international operations from the stagnant parent firm.

Telmex controlled by billionaire tycoon Carlos Slim, agreed to call the new company Telmex Internacional. Plans are to list the company on Mexican and U.S. stock markets.

The international company will include fixedline operators, television cable companies and Internet service providers in Brazil, Argentina, Chile, Colombia, Ecuador and Peru.

Telmex, a former stateowned monopoly, dominates the fixedline and longdistance market in Mexico but has come under pressure in its local markets from increased competition and shrinking profit margins.

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