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BUSINESS
October 30, 2007 | From Times Wire Services
Mexico's antitrust chief said regulators would reopen an investigation of billionaire Carlos Slim's telephone companies, Telefonos de Mexico and America Movil, in about three weeks. Eduardo Perez Motta, president of the Federal Competition Commission, said the inquiry would determine whether the companies have monopolies in some regions.
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BUSINESS
May 15, 1991 | TOM PETRUNO
Ma Bell is dead as we knew her, but Senora Bell is alive and well in Mexico--and she's also become a huge investment hit north of the border. Telefonos de Mexico SA de CV, the Mexican phone company, Tuesday sold 40 million new shares in the United States. The shares were initially expected to fetch $22 to $24 a piece. Instead, demand was so strong that the stock was priced at $27.25. In first-day trading on the New York Stock Exchange, it closed at $27.375.
BUSINESS
October 25, 2006 | From the Associated Press
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.
BUSINESS
June 22, 1999 | Bloomberg News
AT&T Corp. and Mexico's Telefonos de Mexico, the country's largest telephone company, have signed an accord to lower a cross-border interconnection rate to make it cheaper to call between Mexico and the U.S. The new rate, which covers the cost of completing a long-distance call between the two nations, will drop to 19 cents a minute from 37 cents. It becomes effective July 1. Telephone traffic between Mexico and the U.S.
BUSINESS
May 20, 1999 | Charles Piller
Mexico President Ernesto Zedillo said Wednesday that Mexico's privatized phone company, Telefonos de Mexico, or Telmex, will staff its previously announced U.S. headquarters in San Diego with 125 employees, the first of an eventual 500 hires. Telmex is competing for part of the U.S. long-distance market by targeting Latino customers here. Telmex announced plans in February to move its offices from Houston to San Diego because of California's greater growth potential. The U.S.
BUSINESS
August 13, 1998 | Bloomberg News
AT&T Corp. asked the Federal Communications Commission to reconsider its decision to let the Sprint Corp.-Telefonos de Mexico joint venture offer long-distance phone service from the U.S., on grounds that the deal would thwart competition on the U.S.-Mexico phone route. AT&T believes that Telmex is using its position as the dominant Mexican phone company to charge U.S. long-distance companies inflated rates for completing calls in Mexico.
BUSINESS
April 20, 1995 | Times Staff and Wire Reports
Sprint, Telmex in Alliance: Sprint Corp. and Telefonos de Mexico said they will jointly provide voice, data and video services between Mexico and the United States. The companies signed a definitive agreement, first announced in December, to form a strategic alliance that provides for joint technology transfer, cross-border marketing, and intellectual property and trademark licensing.
BUSINESS
March 10, 1995 | TOM PETRUNO
In a new phase of the global currency crisis and the panic in Latin American stocks and bonds, Wall Street on Thursday began to focus on who's on the wrong side of those crumbling markets. Rumors swept the U.S. stock market early in the day that major American and German banks could rack up huge losses on Latin American loans or on Latin bonds they hold, as those economies careen toward recession.
BUSINESS
May 1, 2004 | From Bloomberg News
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.
BUSINESS
November 30, 2001 | From Bloomberg News
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.
BUSINESS
January 19, 2001 | Bloomberg News
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.
BUSINESS
January 3, 2001 | JAMES F. SMITH, TIMES STAFF WRITER
Mexico's former phone monopoly and its two U.S.-backed competitors reached a sweeping agreement Tuesday that ends numerous costly disputes and partly resolves a rancorous U.S.-Mexico trade conflict as well. Telefonos de Mexico, or Telmex, as the former national phone company is known, agreed to cut interconnection fees for the two other major long-distance providers in Mexico--both backed by U.S. phone giants--by more than half, to 1.25 U.S. cents per minute.
BUSINESS
December 28, 2000 | From Reuters
Mexican telecom giant Telefonos de Mexico said Wednesday that it reached an accord with two partly U.S.-owned long-distance operators to resolve an escalating trade dispute over access to the country's $12-billion telecommunications market. Telmex and long-distance companies Alestra, 49% owned by U.S. telecom giant AT&T, and Avantel, part-owned by WorldCom Inc.
BUSINESS
July 20, 2000 | Bloomberg News
Bad day at the Bolsa: Shares of Telefonos de Mexico, Mexico's largest telephone company, Wednesday suffered their biggest one-day plunge since the 1997 Asian financial crisis after the company reported second-quarter profit below estimates. Telmex, whose shares account for almost a third of Mexico's IPC stock index, said late Tuesday that second-quarter operating profit fell 3% on higher costs and falling sales from international long-distance calls.
BUSINESS
December 27, 1993 | From Times Staff and Wire Reports
Mexican Telephone Rates Will Rise: Telefonos de Mexico will raise its rates for telephone services by 5% starting today, the official news agency Notimex reported. The fee hike will be the only one this year, according to the Notimex report. Upbeat expectations for the telephone company's future propelled its stock 2% upward late last week, a jump that helped push the Mexican Bolsa's key stock index to an all-time high.
BUSINESS
June 22, 1999 | Bloomberg News
AT&T Corp. and Mexico's Telefonos de Mexico, the country's largest telephone company, have signed an accord to lower a cross-border interconnection rate to make it cheaper to call between Mexico and the U.S. The new rate, which covers the cost of completing a long-distance call between the two nations, will drop to 19 cents a minute from 37 cents. It becomes effective July 1. Telephone traffic between Mexico and the U.S.
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