Today, Teléfonos de México (Telmex) is one of the most successful telecommunication companies in Latin America. It is the dominant provider of fixed-line and cellular services in Mexico. Telmex's evolution to profitability began only after the government put the company into private hands, first with a strategic sale of 24.8% of the company in 1990, followed by an initial public offering in 1991. The $2.2 billion IPO was the largest share offering to date in Latin America and set the tone for blockbuster privatizations throughout the region.
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