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Concept
Telmex
Summary
Teléfonos de México,
S.A.B. de C.V., known as Telmex is a Mexican telecommunications company headquartered in Mexico City that provides telecommunications products and services in Mexico. In 2014, Telmex was the dominant fixed-line phone carrier in Mexico. In addition to traditional fixed-line telephone service, Telmex offers Internet access through their Infinitum brand of Wi-Fi networks, data, hosted services and IT services. Telmex owns 90 percent of the telephone lines in Mexico City and 80 percent of the lines in the country. Telmex is a wholly owned subsidiary of América Móvil.
Telmex was founded in Mexico the , when a group of Mexican investors bought Swedish Ericsson's Mexican branch. In 1950, the same investors bought the Mexican branch of the ITT Corporation, thus becoming the only telephone provider in the country. In 1972, the Mexican government bought the company.
In 1990, Telmex was bought by a group of investors formed principally by Carlos Slim Helú, France Télécom, and Southwestern Bell Corporation, whose tender was the largest. However, controversially, the payment itself took place over the course of the next several years, using revenues from the phone service.
After privatization, Telmex began investing in new modern infrastructure, creating a partial fiber optic network throughout the nation, thus offering service to 30% of the Mexican territory.
In 1991, the Mexican government sold its remaining stock in Telmex.
In the 1990s, Telmex formed a subsidiary Radio Móvil Dipsa to provide mobile communications under the brand Telcel.
In 2000, Telmex spun off their mobile unit, creating América Móvil, which controls Radio Móvil Dipsa. It started with 80% of the mobile market.
In 2010, America Móvil (an independent company from its former parent company, Telmex) bought 60% of Telmex, paying over 23 billion dollars. In 2011, America Móvil purchased the remaining 40% of Telmex. In August 2012, America Móvil started the process to de-list Telmex from the Mexican Stock Exchange.
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