MEXICO (Thomson Financial) - Leading fixed-line operator Telefonos de Mexico
SA de CV (Telmex) said yesterday it will split its activities into two separate
operations covering its Mexican and other Latin American operations
respectively.
The restructuring process will lead to the creation of a new business,
Telmex Internacional, the group said in a statement.
The aim of the reorganisation is to increase efficiency by sizing each group
appropriately with their respective markets, but also to improve their
competitiveness, said Telmex, owned by owned by one of the richest men in the
world, Carlos Slim.
Telmex Internacional will be listed both in Mexico City and New York.
The decision to split the group must be approved by the company's
shareholders.
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