| | |  Business News | November 2008 
Mexico Weighs Foreign Investment in Telephones
 Associated Press
go to original
Mexico City - A Mexican congressional commission has approved a proposal to loosen the current 49-percent limit on foreign investment in the fixed-line telephone industry.
The bill, however, must still be debated by the full house.
Telefonos de Mexico SAB, or Telmex, controls 90 percent of land lines in Mexico.
A press statement from the lower house of Congress did not specify whether the bill would allow 100 percent foreign investment.
Telmex main shareholder Carlos Slim is one of the world's richest men, and has diversified into real estate and infrastructure.
On Thursday, Slim's Grupo Carso holding company announced an $800 million investment in a multi-use complex including office space and housing in Mexico City. |
|
| |
Vallarta Weddings
Tell a Friend
Site Map
Print this Page
Email Us