Word: telmex
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Dates: during 1990-1999
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...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...
...novel contract with Mexico's Telmex phone company calls for 1,000 electronic mailboxes in each of three cities: Tijuana, Mexicali and Ensenada. Potentially, Trilogue could service scores of other Mexican urban areas that have the prerequisite pay-phone networks. Farther afield, Comverse is eyeing markets in developing countries from South America to the Far East. The company has links with major distributors like Samsung in Korea and Oki in Japan, as well as Alcatel, the French telecommunications giant, which rang up the Mexican deal...
Four months ago, the government completed the first and most important phase of the sale of Telefonos de Mexico, the national phone company, whose market value is about $8 billion and whose profits last year totaled $1 billion. The state has sold 20.4% of Telmex stock, which represents the majority of voting power, for $1.76 billion. The buyers: a consortium led by Grupo Carso, a Mexico City-based conglomerate headed by entrepreneur Carlos Slim and including Southwestern Bell and France Telecom. But the Federal Communications Commission in Washington is considering regulatory changes that could limit one of Telmex's most...