November 4, 2006 |
Say adios to cheap calls to cellphones in Mexico. Starting today, the Mexican government is imposing a surcharge of at least 14 cents a minute to complete international calls to cellphones, more than doubling or tripling rates callers pay. "It's going to hurt the average consumer significantly," said Jeff Compton, an executive at Telscape Communications Inc., a Monrovia phone company that caters to Latinos.
October 25, 2006 |
Mexico's leading phone company, Telefonos de Mexico, or Telmex, said it had acquired an 80% stake in Cobalt Publishing Co., the biggest publisher of Spanish-language telephone books in the U.S., from private equity firm Blue Equity. No financial terms were disclosed. Cobalt publishes 32 directories in 18 states under the name Enlace Spanish Yellow Pages.
May 1, 2004 |
Carlos Slim, Latin America's richest man, stepped down as chairman of the board of Telefonos de Mexico and handed over the responsibilities to his eldest son, Carlos Slim Domit. Carlos Slim Domit, 37, formerly co-chairman of Telmex with his father, takes over immediately, according to a filing with the U.S. Securities and Exchange Commission. His father, 64, will remain honorary lifetime chairman of the company he has run for 14 years, the filing said.
April 3, 2004 |
Telefonos de Mexico, Mexico's largest phone company, may have to reduce the connection fees it charges AT&T Corp. and WorldCom Inc. because a World Trade Organization panel ruled Friday that Mexico broke global trade agreements. The WTO ruling in Geneva against Telmex, owned by billionaire Carlos Slim, followed complaints by the U.S. companies that Telmex collected more than $1 billion in overcharges since 2000 for connecting U.S. callers to telephones in Mexico.
November 30, 2001 |
XO Communications Inc., a telecommunications company with more than $2 billion in losses in the last year, agreed Thursday to a takeover by Forstmann Little & Co. and Telefonos de Mexico to avoid bankruptcy. The company's shares fell 22% after it said the takeover by Theodore Forstmann's leveraged-buyout firm, which had invested more than $1.2 billion in the company, and Telmex will wipe out the value of most shares.
January 19, 2001 |
Avantel, a Mexican telecom company partly owned by WorldCom Inc., plans to spend $200 million this year to move into the local phone market after reaching agreement with Telefonos de Mexico on interconnection fees. Avantel agreed with Telmex in December to set the connection fee between networks at 1.25 cents a minute, down from 3.36 cents a minute last year.