Telmex Sets the Standard

Telmex Sets the Standard

Mexico

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. Telmex's privatization was a cornerstone in President Carlos Salinas's plan to sell off inefficient state-owned companies. The cou

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