Slim Takes More Telecom TurfCarlos Slim's phone operators – América Móvil and Teléfonos de México – teamed up to buy Verizon Communications' 28.5% stake in Venezuelan operator CANTV for $676.6 million, while América Móvil also slapped down $2.06 billion for Verizon's assets in the Dominican Republic and $939 million for the US-based carrier's 52% stake in a Puerto Rican operator. Verizon will use the proceeds to cut debt and buy back stock. JPMorgan advised América Móvil, while Lehman Brothers guided Verizon. Bogotá Bidding WarTelefónica won control of Colombia Telecom with a $369 million bid, beating out CANTV by $17 million for a

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