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Telefonos de Mexico (Telmex) - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
Teléfonos de México SAB de CV (Telmex) owns and operates the largest fixed-line telecommunications network in Mexico, where it is the only nationwide provider of fixed-line telephony services. The company provides a range of fixed-line local and long-distance telephone services, as well as other telecommunications and telecommunications-related services, such as corporate networks, Internet access services, directory services, information network management, telephone equipment sales, satellite services, paging services, and interconnection services to other carriers. Telmex spun off its Mexican wireless business and other operations to América Móvil SAB de CV in September 2000. Since February 2004, Telmex has also offered voice, data, and Internet access services in Brazil, Argentina, Chile, Colombia, and Peru. In addition, the company began providing cable TV services in Brazil in 2005, in Colombia in 2006, and most recently telecommunications services in Ecuador in 2007. Telmex was formed in 1947 under private foreign ownership to acquire the Mexican telephone business of a wholly-owned subsidiary of LM Ericsson group of Sweden. In 1972, the Mexican federal government acquired the majority of Telmex's capital stock, but then sold shares representing voting control of Telmex in December 1990. The Mexican government sold the balance of its shares in a series of transactions beginning in May 1991. Grupo Carso SAB de CV acquired many of the shares in Telmex held by minority investors, as well as those shares held by France Telecom, and now holds its shares through a wholly-owned telecommunications holding company known as Carso Global Telecom SAB de CV, which was spun off from Grupo Carso in 1996. As of April 10, 2007, Carso Global Telecom (71.2%) and AT&T International (21.0%) were the major shareholders of Telmex.
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