Business & Banking

Business & Banking

Mexico

Telmex Spins Off International AssetsMexico's largest telecommunications company, Telmex, spun off its wireless and international holdings into a new company América Móvil in an offering on the New York Stock Exchange. América Móvil was briefly Latin America's largest wireless company, prior to the announcement by Spain's Telefónica and Portugal Telecom that they would merge their wireless assets in Brazil to form a $10 billion venture (see "Punching Above Its Weight"). Telmex is the latest telecom company to spin off its cell phone division. AT&T and Spain's Telefónica have both shifted their mobile subsidiaries into new companies. The Telmex offeri

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