Word: telmex
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Slim, fairly or not, is often fingered for some of the obstacles facing Mexico's underdogs. According to the Paris-based Organisation of Economic Cooperation & Development, for example, Telmex, which is the flagship of Slim's Grupo Carso and which controls 90% of Mexico's telephone market, charges small businesses some of the highest fees in the world. Telmex insists those charges have dropped considerably in recent years; but the situation points up the distortions that many feel help keep Mexico underdeveloped...
...credit, Slim, a widely respected figure and the son of a Lebanese immigrant, seems to be acknowledging the problem. He has accepted, for example, a rare move by Mexico's Federal Competition Commission to block Telmex from expanding into cable television until it allows all competitors to be smoothly hooked up to its telecom services. And he is lifting his charitable profile, announcing he'll pour $10 billion over the next four years into his health- and education-related Fundacion Carso. Business and philanthropy experts alike hope these developments will help prime the pump not only in Mexico but throughout...
...biggest shareholder as well as chairman of Telefonos de Mexico (Telmex), Mexico's no-longer-monopoly telephone company, Slim is planning to challenge American giants like AT&T and MCI on their home turf in 1997. The stakes: a bigger share in the $2.5 billion U.S.-Mexico long-distance market. "Our focus is toward Hispanic users in the U.S.," he says. The notion of taking on mammoth American firms is in keeping with the ambitions of multibillionaire Slim, widely assumed to be Mexico's richest man. His Grupo Carso holding company was already worth $1.2 billion in sales...
...Telmex is now a $17 billion enterprise, and Slim is looking further afield in more ways than one. His main strategic objective is to diversify the company away from ordinary telephone services and into data transmission, videoconferencing and the Internet. "Long-distance communications are old news," he told Time...
Slim's expansiveness inspires cynicism in his many Mexican critics. His Telmex purchase was condemned by many nationalists as evidence of his cronyism with then President Carlos Salinas de Gortari; one political party filed suit against Slim, saying he paid an artificially low price for his share, a charge he firmly denies...