Carlos Slim Helú resigned as chairman of Teléfonos de Mexico (Telmex). He will be succeeded by his son, Carlos Slim Domit, who has been serving as co-chairman of the company. Telmex is Mexico’s incumbent carrier and has 15.1 million telephone lines in service and 74,000 km of fiber. The company was privatized in December 1990. http://www.telmex.com
- In March, Telefonos de Mexico (Telmex) agreed to acquire MCI’s 19% equity stake in Embratel for $360 million in cash. MCI’s share in Embratel is a 19.26% economic interest and a 51.79% voting interest. Embratel offers a full range of telecom services across Brazil, including local and long distance telephony, advanced voice, high-speed data transmission, Internet, satellite data communications, and corporate networks. Its nationwide fiber network extends approximately 29,000 km.