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Telmex : the company
Telmex, is a Mexican telecommunications company that provides telecommunication products and services in Mexico and in many parts of Latin America, such as Argentina, Brazil, Chile, Colombia, and Peru, and in North America to the United States. In addition to traditional fixed-line telephone service, Telmex also offers Internet access.
Telmex was founded in 1947 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, turning it into a government monopoly. From 1972 to until its privatization in 1990, Telmex invested little in the country's infrastructure. As a result, it was all but impossible to procure a phone line to one's home.
In 1990, president Carlos Salinas de Gortari decided to sell many state owned companies, with a view towards improving infrastructure and services. Telmex was sold to a group of investors formed principally by Carlos Slim, France Télécom, Southwestern Bell Corporation (resulting in "Taco Bell" used jokingly to refer to the purchase). Their tender was the largest. However, controversially, the payment itself took place over the course of the next several years, using money earned by the phone service.
After privatization, Telmex began investing in new, modern infrastructure, creating a nationwide optic fiber network, and offering service in most of the country.
In 1991, the Mexican government sold its remaining stock in Telmex.
Although Telmex is now a private company it stills remains a monopoly. There are few other telephone companies in Mexico
